Amazon closes acquisition deal with movie studio MGM

Amazon closes acquisition deal with movie studio MGM

MGM is behind hit franchises such as ‘James Bond’ and ‘Rocky’.


Mumbai: Amazon has completed its $8.45 billion acquisition of movie studio Metro Goldwyn Mayer (MGM) recently. MGM is the studio behind franchises such as ‘James Bond’ and ‘Rocky’.

The decision to close the deal comes after a deadline passed by the US Federal Trade Commission (FTC) to challenge the deal. Earlier this week, the European Commission had approved the deal.

Amazon is set to acquire 4000 film titles, 17,000 TV episodes, 180 Academy Awards and 100 Emmy Awards. It will bolster the content catalogue offered on its video streaming service Amazon Prime Video. The talent at MGM will be merged with Amazon Studios to create diverse entertainment choices for consumers.

MGM’s catalogue includes TV shows such as “The Handmaid’s Tale”, “Fargo”, “Vikings” and films such as "12 Angry Men’, ‘Basic Instinct’, ‘Creed’, ‘Raging Bull’, ‘Silence of the Lambs’, ‘Tomb Raider’ as well as this year’s Oscar nominee ‘Licorice Pizza’.

The MGM staff will join the organisation of Prime Video and Amazon Studios senior vice president Mike Hopkins. Amazon had announced the deal in May 2021.