• Home News Amazon have signed an agreement for Amazon to acquire MGM

Amazon have signed an agreement for Amazon to acquire MGM

Posted 08 Jun-2021 04:09 AM by Lisa | 602

Metro Goldwyn Mayer's vast library has over 4,000 beloved film titles, including 12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons

MGM has one of the industry's most exciting upcoming film slates, including House of Gucci, No Time to Die, Respect, The Addams Family 2, and the untitled Paul Thomas Anderson film

Catalog also includes 17,000 TV shows, including thousands of fan favorites like The Handmaid's Tale, Fargo, and Vikings

Collectively, MGM has won more than 180 Academy Awards and 100 Emmys

Amazon (NASDAQ: AMZN) and MGM today announced that they have entered into a definitive merger agreement under which Amazon will acquire MGM for a purchase price of $8.45 billion. MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming. Amazon will help preserve MGM's heritage and catalog of films, and provide customers with greater access to these existing works. Through this acquisition, Amazon would empower MGM to continue to do what they do best: great storytelling.

œMGM has a vast catalog with more than 4,000 films”12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons”as well as 17,000 TV shows”including Fargo, The Handmaid's Tale, and Vikings”that have collectively won more than 180 Academy Awards and 100 Emmys, said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. œThe real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM's talented team. It's very exciting and provides so many opportunities for high-quality storytelling.

œIt has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day, said Kevin Ulrich, Chairman of the Board of Directors of MGM. œI am very proud that MGM's Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM's storied history with Amazon is an inspiring combination.

Completion of this transaction is subject to regulatory approvals and other customary closing conditions.

About Amazon


Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

Source:-https://www.businesswire.com/news/home/20210526005648/en/Amazon-and-MGM-have-signed-an-agreement-for-Amazon-to-acquire-MGM

Tags:

Metro Goldwyn Mayer,Magnificent , industry’s most,MGM ,Amazon,Amazon Studios, Earth’s Best Employer, Affordable Press Release Network, Low Cost Press Release Distribution Websites, Free Press Release Distribution, Press Release, Free Press Release Distribution Services

Company Information

Company Name Contact Person Contact Number Email Id Website Address
Amazon

Other Business Related Press Release News

Dallas PEO Consulting Firm Discusses Retirement Plan Consulting Free

Dallas, Texas (pressreleasepower) September 9, 2020 - BenefitCorp, a Dallas PEO consulting firm, recently released a new educational resource that edu...Read More


Philadelphia Waterproofing Company Teaches How to Remove Silicone Free

West Chester, Pennsylvania (pressreleasepower) September 8, 2020 - Waterproof Caulking and Restoration, a Philadelphia waterproofing company, recently...Read More


Increasing Number of End-use Applicationsto Boost the Cartridge Heaters Market Free

An upcoming market research report from Industry Probe titled “Cartridge Heaters Market – Global Industry Dynamics 2018-19, Trends and Foreca...Read More


Tarjs is Pleased to Announce the Launch of New Website Free

Muscat, Oman (pressreleasepower) April 30, 2020 - Tarjs is pleased to announce the launch of our brand new website! After several months of hard work ...Read More


Northern VA Design & Build Contractors Discuss Storm Damage Restoration Free

Chantilly, Virginia (pressreleasepower) - The Northern Virginia design & build contractors at Monumental Contractors, recently released ...Read More