MGM Is Bought By Amazon For $8.45Billion

Last week report were circulating online that Amazon was in talks to buy MGM. Today that story came true as Amazon but the Hollywood studio for $8.45 (£6) billion dollars.

This news will be great news for those who are Prime Video subscribers. At the same time worrying factor for Hollywood as another studio becomes another cog in a Internet monopolisation. Could any other studios be bought out by another internet based company? The warning that the way we watch films and shows has been around for a while now. The pandemic was that trigger that has changed everything which also seen those filmmakers now working on projects for many of these streaming channels.

This deal has saw Amazon eat up a century of some of the greatest films in Hollywood’s history. A library of 4,000 film titles and 17,000 hours of TV programming, from Gone With The Wind, Singin’ In The Rain, Some like It Hot. That’s only a few of the classics they also have the likes of Creed, Silence Of The Lambs and of course the cash cow better known as James Bond.

What does this mean for this franchise? Potential spin-offs or TV version to be released as a Amazon Prime Original? Off course there is the small matter of the future Bond films, how will they be distributed? Theatrical or a video on demand or a theatrical release with a Prime Video release a week or two later. That will be something for the future, for now Bond fans just want to see No Time To Die first on the big screen after been constantly being delayed. We can say we know where it will go before it arrives on home release, that maybe depending on the home entertainment deal MGM have with Universal Pictures.

The deal amount is a lot higher than the $5 billion that was originally been touted, possibly higher due to James Bond. You wonder what things could have been if Apple or Comcast won the deal, it just shows the cash Amazon has on hand. This deal will push them up the ladder and give the likes of Disney, Netflix a run for their money. It could also see them taken seriously when buying future film projects, rather than the projects that other studios didn’t want.

Source: Guardian