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Amazon Bought Prestigious Studios That Produce James Bond, Tom And Jerry For $8.45 Billion
By: Tupaki Desk | 27 May 2021 5:46 AM GMT
Leading over-the-top(OTT) streaming and rental service Amazon Prime Video owned by Amazon.com, In, enjoys a whopping 175 million users across the globe. In a big move to supercharge the service, Amazon has bought a prestigious studio.
Amazon has issued a press note to confirm the acquisition of MGM Studious that was behind James Bond and the legendary cartoon show Tom and Jerry. Amazon has bought the studies for a whopping amount of $8.45 billion.
Amazon company said that it is bound to safeguard the heritage of the prestigious MGM Studious and it will help the studious in preserving the catalog of films. There is no information on the date of acquisition.
"The real financial value behind this deal is the treasure trove of [intellectual property] in the deep catalog that we plan to reimagine and develop together with MGM's talented team," Mike Hopkins, senior VP of Prime Video and Amazon Studios, said.
The deal to buy the prestigious studious is the second-largest acquisition for Amazon company. Earlier in 2017, Amazon has acquitted Whole Foods for a record amount of $13.7 billion.
"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, " Kevin Ulrich, MGM's chairman said in a statement.
The prestigious Studious has been into filmmaking for over a century and has over 4,000 movies and 17,000 TV shows in its catalog. In its glorious career, the studious has earned 180 Oscars and 100 Emmys.
The acquisition took place at the time when Netflix and other rivals of Amazon have upped the game by buying new films and producing new shows. The tie-up with the studious would certainly favor Amazon.
Amazon has issued a press note to confirm the acquisition of MGM Studious that was behind James Bond and the legendary cartoon show Tom and Jerry. Amazon has bought the studies for a whopping amount of $8.45 billion.
Amazon company said that it is bound to safeguard the heritage of the prestigious MGM Studious and it will help the studious in preserving the catalog of films. There is no information on the date of acquisition.
"The real financial value behind this deal is the treasure trove of [intellectual property] in the deep catalog that we plan to reimagine and develop together with MGM's talented team," Mike Hopkins, senior VP of Prime Video and Amazon Studios, said.
The deal to buy the prestigious studious is the second-largest acquisition for Amazon company. Earlier in 2017, Amazon has acquitted Whole Foods for a record amount of $13.7 billion.
"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, " Kevin Ulrich, MGM's chairman said in a statement.
The prestigious Studious has been into filmmaking for over a century and has over 4,000 movies and 17,000 TV shows in its catalog. In its glorious career, the studious has earned 180 Oscars and 100 Emmys.
The acquisition took place at the time when Netflix and other rivals of Amazon have upped the game by buying new films and producing new shows. The tie-up with the studious would certainly favor Amazon.
