Amazon, MGM Studios Complete $8.5 Billion Merger

[Lee A Stewart]

Amazon and MGM Studios March 17 announced the closing of their $8.5 billion merger first announced in May 2021. The companies made the announcement after the deadline for the Federal Trade Commission to block the deal passed. Amazon now gets access to MGM’s library of more than 4,000 movies, including the lucrative James Bond franchise, and 17,000 TV shows. The European Union March 15 gave its regulatory approval of the transaction.

“MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience,” Mike Hopkins, SVP of Prime Video and Amazon Studios, said in a statement. “We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”

Chris Brearton, chief operating officer of MGM, welcomed joining the Amazon Prime Video platform.

“MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century,” he said. “We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”

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