Amazon is officially acquiring MGM for US$8.45 billion after speculation that the companies were in talks to merge.
MGM, beyond its massive scripted film and television inventory, is the parent company .
by Tyler Durden
Wednesday, May 26, 2021 - 08:43 AM
Confirming earlier leaked details, Amazon has agreed to buy the nearly century-old Metro-Goldwyn-Mayer movie studio for $8.45 billion, according to a statement.
“MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming”
Bezos, Jeff Bezos.
Full Press Release:
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.
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