With $8.45 billion MGM deal, Amazon scripts its own Hollywood plot twist
The deal to acquire MGM is the biggest move yet by Amazon in Hollywood, as Jeff Bezos prepares to step down as Amazon CEO. (GeekWire Photo Illustration.)
Amazon’s agreement to acquire MGM for $8.45 billion has all the makings of a great script, combining a Hollywood icon with an Internet powerhouse.
But will this unlikely pairing be a giant blockbuster or a massive flop?
Here’s how he put the news in perspective in his coverage this week: “Ninety-six years after Metro Pictures, Goldwyn Pictures and Louis B. Mayer Pictures merged to form MGM Studios, the Hollywood mainstay best known for its roaring lion mascot is set to join a trillion-dollar business empire best known for selling household items over the internet.”
MGM would provide Amazon with more than 4,000 films and 17,000 TV shows that have collectively won more than 180 Academy Awards and 100 Emmys.
The film library includes the James Bond and Rocky franchises, as well as television shows such as “The Handmaid’s Tale” and “Fargo,” and reality shows such as “Shark Tank” and “Survivor.”
— toddbishop (@toddbishop) May 29, 2021
Amazon’s MGM acquisition would be the second-largest deal in the Seattle company’s history, behind its $13.7 billion purchase of Whole Foods in 2017.
The deal is subject to regulatory approval. It was announced during the same week that Washington, D.C.’s attorney general filed suit against Amazon.
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Edited and produced by Curt Milton; theme music by Daniel L.K. Caldwell.