James Bond, Rocky, and even 2000’s Supernova are now all – at least in part – joining the Amazon empire, as MGM is snapped up by the online giant.
It wasn’t expected that there’d be too many hurdles for Amazon to negotiate in its planned purchase of one of Hollywood’s oldest studio names, MGM. And so it has come to pass: for the princely sum of $8.5bn, presumably with free delivery, Amazon has bought itself MGM.
It’s a significant deal, and a major intersection of new technology companies with old Hollywood. The instant upside for Amazon is it’s acquired over 4000 films and 17,000 episodes of TV shows to add to its Prime Video service. Then there are some of the brands it now has a stake in, from James Bond to Rocky.
The official press announcement quotes Mike Hopkins, senior vice president of Prime Video and Amazon Studios. He saids that “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. 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”.
Top marks to Mike for not using the word ‘content’ in his words, and long may that continue.
We can but hope that Amazon continues to support MGM’s theatrical work, and that this isn’t a case of it all being used as cover for lots of people losing their jobs. But after decades of financial highs and lows, this might just mark a solid future for MGM if it goes well. Fingers crossed.
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