Amazon Buys MGM Movie Studio, In a Bid To Provide More Quality Content To Viewers
Amazon.com on Thursday closed a monumental deal of buying MGM for a whopping $8.45 billion.
New Delhi: Amazon.com on Thursday closed a monumental deal of buying MGM movie studio for a whopping $8.45 billion. The nearly century-old studio will complement Amazon Prime Video and Amazon Studios’ work, as the retail giant aims to provide more quality entertainment options for viewers. Seattle-headquartered Amazon had announced the transaction in May last year, saying that MGM offered a treasure of content to entice consumers to its fast-shipping and streaming club Prime, which costs $14.99 per month in the US.
"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, Senior Vice President of Amazon 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."
The storied, nearly century-old MGM has more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards.
"We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family," said Chris Brearton, Chief Operating Officer of MGM.
"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. 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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