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Managing editor & film and television critic with a Bachelor's of Arts in English Literature with a Writing Minor from the University of Guam. Currently in graduate school completing a Master's in English Literature.
Amazon has finally bought Metro-Goldwyn-Mayer. In a report by CNBC, Amazon “hopes to leverage” the film studio’s four thousand films and seventeen thousand television shows. By doing so, it will strengthen Amazon Studios’ library.
Statements on Both Ends
Mike Hopkins, the senior vice president of Prime Video and Amazon Studios, has made the following statement.
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. It’s very exciteing and provides so many opportunities for high-quality storytelling.
Additionally, MGM chairman Kevin Ulrich has made a statement too.
I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination.
The Details
Amazon’s intentions in the streaming service competition are no surprise. Over a week ago, Discovery announced plans to take WarnerMedia from AT&T. Not long after, Amazon announced its plans to buy MGM for $9.00B.
MGM has a myriad of popular television series in its bag. This includes The Handmaid’s Tale, Fargo, Shark Tank, Survivor, The Real Housewives, and more. Franchises part of the deal include Pink Panther, Rocky, and the 007/James Bond series, as per Variety.
Hopkins also noted that MGM productions have collectively won over one hundred eighty Oscar Awards and one hundred Emmy Awards.
With such a major film studio being bought, Jeff Bezos will only get wealthier. Who knows what deal will be made over the next few months!
What are your thoughts on this situation? Let us know! For more Amazon, MGM, film, and television-related news and reviews follow The Cinema Spot on Twitter (@TheCinemaSpot) and Instagram (@thecinemaspot_).
Managing editor & film and television critic with a Bachelor's of Arts in English Literature with a Writing Minor from the University of Guam. Currently in graduate school completing a Master's in English Literature.
