Amazon acquires MGM Studios for more than $8B
Amazon is going to Hollywood.
The online shopping giant is acquiring MGM, the film and television studio behind James Bond. Legal blonde with Shark tank, I hope to add more content worthy of attention to the video streaming service.
Amazon will acquire MGM for $8.45 billion, making it the second largest acquisition after MGM Acquired Whole Foods, a grocery store, for nearly $14 billion in 2017.
This deal is the latest in the media industry and aims to enhance streaming services to compete with Netflix and Disney+. AT&T and Discovery announced on May 17 that they will merge media companies, Created powerful companies including HGTV, CNN, Food Network and HBO.
Amazon did not disclose how many people watched its Prime Video service. However, more than 200 million users can access it because they have registered as its Prime member, which allows them to obtain shipping and other privileges faster. In addition to Prime Video, Amazon also has a free streaming service IMDb TV. Amazon makes money by broadcasting advertisements in movies and TV shows.
Buying MGM can make Amazon get more movies, shows and famous characters, including Rocky, RoboCop and Pink Panther. Amazon will also get a cable channel: Epix owned by MGM.
Iconic film studio
MGM is known for its roaring lion logo and is one of the oldest studios in Hollywood. It was founded in 1924 when the film was silent.There are many classic works in its library, including Singing in the rain.Recent works include reality TV staples Shark tank with The Real Housewives of Beverly Hills“And the upcoming James Bond movie No time to die There is also a biopic called Aretha Franklin (Aretha Franklin) respect.
Amazon already has its own studio, but the results have been mixed.Its two performances Marvelous Mrs. Messer with Flea bag, Won the Emmy Award for Best Comedy Series. But many of its films failed to attract audiences at the box office. Recently, Amazon has been investing heavily in sports and water performances.It will flow Thursday night football Next year, in production Lord of the rings According to reports, $450 million was spent in the first season alone.
The transaction will receive customary approval, which will further expand the scale of Amazon (already one of the most powerful and valuable companies in the world). Regulators around the world are reviewing Amazon’s business practices, especially the way it looks at information about companies that sell products on its website and use it to create their own Amazon-branded products.
An October report from the U.S. House of Representatives Judiciary Committee called for the possible spin-off of Amazon and other companies, which made it more difficult for them to buy other companies and imposed new rules to protect competition.
Founded in 1995 as an online bookstore, Amazon has become a behemoth with a market value of $1.6 trillion. It has a delivery business network that can send orders to people in two days or less. It sells inhalers and insulin; has a cloud computing business that can support Netflix and McDonald’s applications; and plans to send more than 3,200 satellites into space to deliver Internet services to the earth.