Amazon now officially owns MGM following closure of $8.5 billion deal

MGM is one of Hollywood's oldest studios, with a vast catalogue that includes James Bond and Rocky

No Time to Die

Amazon has confirmed that its $8.5 billion USD (about $10.7 billion CAD) acquisition of MGM is complete.

This means that it officially owns the historic Hollywood studio, whose properties include the James Bond and Rocky film franchises and Shark Tank and The Handmaid’s Tale TV series. The deal was first announced last May, meaning it took just under one year to pass the necessary regulatory approvals.

Amazon aims to use MGM’s extensive catalogue of more than 4,000 films and 17,000 TV episodes to bolster its Prime Video service. However, it’s unclear exactly what it looks to do with these properties, particularly Bond, which is set to enter a new era following the end of Daniel Craig’s tenure as the British superspy in last year’s No Time to Die.

Image credit: MGM/Eon Productions

Source: Amazon

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