Amazon has completed the acquisition of MGM, so it will soon add the major studio’s catalog to its Prime Video service. The transaction, valued at $8,450 million, was approved this week by the European Union’s antitrust regulator.
Agree with Varietythe European Commission gave the green light to the takeover of MGM because its content is not considered essential. In the eyes of the EU, the acquisition of Metro Goldwyn Mayer would not create competition concerns and the overlap between Amazon’s and MGM’s businesses is limited.
Although the United States Federal Trade Commission may still not approve the transaction, all indications are that it will not take place. The US agency has a deadline this month to challenge, although legal experts say it could do so once the purchase is consummated.
The purchase agreement between Amazon and MGM was announced in May 2021. With this, Amazon is not only made of a catalog that includes more than 4,000 films and 17,000 episodes of TV series, as well as all franchise rights.
Mike Hopkins, vice president of Prime Video and Amazon Studios, said at the time that “the real financial value of this deal is the treasure trove of intellectual property they plan to reinvent and grow with MGM.”
First video will integrate into its service films considered to be the most important in history the cinema. bands like Gone with the Wind, Rocky, Doctor Zhivago, Apocalypse Now and 2001: A Space Odyssey They will be available very soon for Amazon subscribers. The catalog is endorsed by 180 Oscars and 100 Emmy Awards.
James Bond, the icing on the MGM cake for Amazon
Buying Metro Goldwyn Mayer also gives Amazon participation in James Bond films. The company founded by Jeff Bezos will share the rights to the franchise with Eon Productions, the iconic producer of all Agent 007 tapes.
It is important to mention that Amazon won’t have full control over James Bond. Barbara Broccoli and Michael G. Wilson, owners of Eon Productions, will maintain a grip on the franchise and any changes to the films will be approved by them.
Broccoli commented in an interview that Amazon pledges to continue showing Agent 007 movies in theaters, although this may change. It is very likely that the new owners of MGM will offer expand the franchise to television.
Amazon had no problem investing hundreds of millions of dollars in the series of The Lord of the Ringsor to rescue The extent produce more seasons. A James Bond series created by Eon and exclusive to Prime Video is on the horizon.
I am Bhumi Shah, a highly skilled digital marketer with over 11 years of experience in digital marketing and content writing in the tech industry.