HomeEntertainmentAmazon Strikes Deal to Buy MGM for Nearly $8.5 Billion: Here’s What it Means for Your Favorite Shows

Amazon Strikes Deal to Buy MGM for Nearly $8.5 Billion: Here’s What it Means for Your Favorite Shows

by Madison Miller
Photo Illustration by: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Amazon just finalized a massive new deal, causing the mega-corporation to grow even more in power.

The tech company has purchased Hollywood studio MGM for almost $8.5 billion. The company is no stranger to massive acquisitions, however, this is the second-largest besides the purchase of Whole Foods.

Amazon is slowly creeping further into the entertainment industry. The company owns both Twitch, a video game streaming site, as well as Prime Video, another streaming service.

The Collection of Shows and Movies

This deal is giving the company rights to a massive collection of films and television shows. Most of which are coming from the Golden Age studio collection.

“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,” Mike Hopkins, the senior vice president of Prime Video and Amazon studios said, according to NPR.

So, what exactly are they getting? What shows and movies are about to get a new owner?

MGM owns movies like “Moonstruck,” “Legally Blonde,” “Rocky,” “The Pink Panther,” “The Silence of the Lambs,” “Singin’ In the Rain,” and “2001: A Space Odyssey.” The company even owns one of the most iconic movies ever, “The Wizard of Oz.” Also included is “Creed,” the Michael B. Jordan film, which is connected to the “Rocky” universe and is the 7th installment of the series.

From classic to more modern flicks, Amazon just got a pretty diverse and expansive collection. There are more than 4,000 total films and 17,000 TV shows.

As for shows, many people will recognize titles like “The Handmaid’s Tale” and “Fargo.” For fans of “The Voice,” which just had its season finale last night, the show is also owned by MGM. It’s unclear if the acquisition will change anything for shows like “The Voice” that are still ongoing.

A Massive Step

This is massive news for the company. Now, Amazon can really compete with huge and influential streaming services like Netflix, Hulu, and HBO Max, all of which have a steady flow of originals as well.

According to The Verge, Amazon Prime users already have streamed over 175 million Amazon videos last year. Therefore, these new and exciting additions can only be positive for the future of both customers and Amazon.

Especially if you’re a fan of James Bond. The grand prize of MGM and the company’s prize possession is the “007” movies. The Guardian reported that the James Bond franchise, which is owned by MGM, is the fifth-most valuable franchise of all time. There are 24 films that have grossed more than $7 billion. Marvel, Star Wars, Harry Potter, and Spider-Man films are ahead of James Bond. The next addition to the franchise will be “No Time To Die,” Daniel Craig’s last appearance as Bond, James Bond.

It will be interesting to see how Amazon will distribute these new titles soon and if any possible are in store.