Amazon has sealed a deal to buy MGM, the film company behind ‘James Bond’, for $8.45 billion.
Both companies announced the acquisition agreement in a joint statement on Wednesday.
It is understood that the completion of the deal is subject to regulatory approvals and customary closing conditions.
MGM has a vast catalogue spanning over 4,000 films like ’12 Angry Men’, ‘Basic Instinct’, ‘Creed’, ‘James Bond’, ‘Legally Blonde’, ‘Moonstruck’, ‘Poltergeist’, ‘Raging Bull’, ‘Robocop’ and ‘Tomb Raider’.
Others are ‘Rocky’, ‘Thelma & Louise’, ‘The Magnificent Seven’, ‘The Pink Panther’, and ‘The Thomas Crown Affair’.
It also has an estimated 17,000 shows that have collectively won more than 180 Academy Awards and 100 Emmys.
On the new deal, Mike Hopkins, senior VP of Amazon Studios, said: “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.”
Kevin Ulrich, chairman of the board of directors of MGM, added: “It has been an honor to have been a part of the incredible transformation of MGM. To get here took immensely talented people with a true belief in one vision.
“On behalf of the board, I would like to thank the MGM team who have helped us arrive at this historic day.
“I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history. The opportunity to align MGM’s storied history with Amazon is an inspiring combination.”
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