Amazon today officially closed its acquisition of MGM, making the Hollywood studio part of Amazon Prime Video and Amazon Studios.
The deal, valued at $8.45 billion, brings over MGM’s catalog of more than 4,000 film titles, 17,000 TV episodes and valuable IP including James Bond.
"MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience," said Mike Hopkins, senior vice president of Prime Video and Amazon Studios, in a statement. "We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers."
"We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family," said Chris Brearton, chief operating officer of MGM, in a statement. "MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come."
Amazon finalized the acquisition just days after getting European Commission approval.
When Amazon first announced the acquisition in May 2021, the company highlighted the opportunity to create new content based on MGM’s existing titles.
“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. It’s very exciting and provides so many opportunities for high-quality storytelling,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios, in a statement.