The company announced Thursday that Amazon has completed its $8.5 billion acquisition of MGM. Upon completion of the deal, more than 4,000 films and 17,000 series will be part of the online retailer’s Prime Video streaming service. The list includes classics from James Bond and Rocky, as well as Fargo and RoboCop and The Silence of the Lambs. The new titles give Prime Video an edge over the likes of Netflix, Hulu and HBO Max.
The deal, which was first announced in May last year, received approval from the EU antitrust regulator two days ago. The regulator believes the deal will not significantly reduce competition as there is limited overlap between Amazon and MGM. Amazon also moved ahead with the transaction after the Federal Trade Commission set a mid-March deadline for the FTC to challenge the merger.
Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said, “MGM has a nearly century of exceptional entertainment production heritage, and we share their commitment to delivering a wide range of original films and TV shows to a global audience. do.” , in an announcement statement. “We welcome MGM staff, creators and talent to Prime Video and Amazon Studios and look forward to working together to create even more opportunities to deliver high-quality stories to our customers.”
As we saw at the launch of studio streaming platforms like Disney+, the deal will likely also include content pulled from competing services after the current contract expires.
“We are thrilled to have our incredible team and creative partners join MGM and its iconic brands, iconic movies and TV series, and the Prime Video family,” said MGM COO Chris Brereton. “MGM is responsible for producing some of the most famous and critically acclaimed films and television series of the past century. We look forward to continuing this tradition as we move forward with the next chapter, working with the amazing team at Prime Video and Amazon Studios to bring the very best in entertainment to viewers for years to come. ,
While Amazon has been hugely successful in recent years, MGM is in big trouble. In 2010, the prepackaged Chapter 11 filed for bankruptcy after the studio changed hands several times. The studio was reorganized and creditors took control of it.
Amazon says Around Centenary Studios will complement content from Prime Video and Amazon Studios and they will work together to create better entertainment for customers.
Amazon actively promotes original content through its own production studio and distribution. In cinematography, he produced well-known titles such as Manchester by the Sea, which won an Oscar for screenplay. The company is also launching a series based on The Lord of the Rings called Rings of Power, which will be released on September 2. The series joins Prime Video’s current roster of hit TV shows like The Marvelous Mrs Black. Meisel”, “Fleabag”, “Boys”, “Jack Ryan” and many others.