Amazon just got big to bigger – the company acquired the film and TV company MGM for $8.45 billion, a big move by Amazon and MGM.
Following this significant acquisition, we can expect Amazon to have its own library of content, which is expected to consist of about 4,000 films and 17,000 hours of TV. This acquisition will help Amazon attract more Prime subscribers.
We all know MGM is most famous for being the Hollywood studio behind many blockbusters, including the James Bond and Rocky franchises, classic films like 12 Angry Men, modern TV shows like The Handmaid’s Tale and Vikings.
Following this acquistion, Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a 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 exciting and provides so many opportunities for high-quality storytelling.
It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news blogger for the past few months, it still feels good to be part of the team. Besides this, I am working with a Canadian-based real estate business and running my own financial blog.