Last week we reported that streaming giant (and e-tailer) Amazon had its eye on famous Hollywood-era movie studio Metro Goldwyn Mayer Studios (MGM). Now it’s been confirmed the company has paid $8.45 billion to acquire the studio.
According to reports, Amazon’s had a keen interest in the studio since at least December, which means it has been in negotiations for a while. MGM Studios’ catalogue includes TV shows and films that are considered household names — like the iconic James Bond films.
Amazon’s new arm
This means Amazon Prime can build out its inventory to include titles like Bond, Legally Blonde, Rocky and Creed. It’ll also now own the rights to TV series’ like The Handmaid’s Tale, Fargo, Shark Tank, and The Real Housewives.
“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,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios according to Business Insider.
Apparently, before any money actually exchanges hands, the two parties are allowing time for regulatory approvals. But expect to shake (not stir) your martini along to the Amazon Prime jingle soon.