Amazon officially announces acquisition of MGM

Image credit: Amazon Prime

Amazon Prime is about to get a heap of new content, including the whole back catalogue of the James Bond franchise.

Recently, we reported on rumours of Amazon being in talks with MGM to acquire the company for an impressive $9 billion. Today Amazon has confirmed the rumours and announced it is purchasing MGM for $8.45 billion. The studio is world-renowned for its films and is behind one of the largest franchises in cinema history, James Bond. 

MGM has a library of more than 4,000 movies and 17,000 hours of TV that spans decades, this no doubt will be a massive boost for Amazon Prime’s ever-expanding catalogue. 

Many were expecting that the new James Bond Film, No Time To Die to be an Amazon Prime exclusive. However, the rights to James Bond are shared with Eon Productions, which means it will be unlikely the film will be a streaming exclusive. This is of course yet to be decided and will likely depend on how the pandemic folds out before the film theatrical release. 

Speaking on the value of the deal Amazon’s Mike Hopkins explains: “The real financial value behind this deal is the treasure trove of [intellectual property] in the deep catalog that we plan to reimagine and develop together with MGM’s talented team.“

Get ready to have films such as Rocky, James Bond, Robocop as well as TV shows such as The Handmaid Tale, Pink Panther, and much more permanently available to stream on Amazon Prime. 

Music journalist and photojournalist based in Cornwall.

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