Amazon will acquire MGM for $8.45 billion

Posted By: Ashley Smith
May 26, 2021 @ 9:16 am
Local News

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(NEW YORK) — Amazon on Wednesday said it has signed an agreement to acquire Metro Goldwyn Mayer (MGM) for $8.45 billion.

MGM’s vast catalog of more than 4,000 films include Basic Instinct, Creed, James Bond, Legally Blonde and more.

“The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team,” Mike Hopkins, the senior vice president of Prime Video and Amazon Studios, said in a statement announcing the acquisition. “It’s very exciting and provides so many opportunities for high-quality storytelling.”