Amazon aims to acquire MGM, owner of James Bond, for $8.45 billion.

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Amazon aims to acquire MGM, owner of James Bond, for $8.45 billion.

Today Amazon made a statement that it will acquire MGM for $ 8.45 billion. The legendary American film studio that owns the “James Bond” franchise and has also produced popular television shows such as “Vikings” and “Shark Tank,” giving it a huge library of movies and TV shows intensifying competition with other streaming media competitors such as Netflix and Disney.

 

Mike Hopkins, the senior executive of Prime Video and Amazon Studios, said that “The real financial value behind this transaction is the treasure trove of intellectual property in the deep catalog that we plan to redesign and develop with the talented team at MGM. It is very exciting and offers so many opportunities for high-quality storytelling.”

Amazon’s Prime Video faces many competitors who are constantly expanding in the international market to catch up with the pandemic caused changes. It seems correct for Amazon to do the same.

Analysts said this is an important motivation for another round of media asset integration after a brief hiatus during the pandemic. To highlight this trend, AT&T Inc. announced a $ 43 billion transaction last week to spin off its Warner Media business and merge it with Discovery Inc., the most ambitious company in the streaming arena.

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