Amazon, on Wednesday, reached a deal with production giant Metro Goldwyn Mayer, in order to boost Amazon Prime’s video titles to include the big guns like the upcoming Bond movie and Rocky.
Sealing an 8.45 billion deal, Amazon claimed that MGM’s goldmine is the intellectual property that it can leverage for making new content — thanks to the hugely popular franchises that Amazon can now tap into to make new material. As it stands, Amazon’s MGM takeover is still subject to regulator approval and other customary conditions before it can close.
With this acquisition, Amazon will now have an additional library of content that’s reported to consist of around 4,000 films and 17,000 hours of TV. Some of MGM’s more promising titles include films like 12 Angry Men and modern TV shows like The Handmaid’s Tale and Vikings. MGM’s library also includes unscripted TV shows like The Voice and Shark Tank. “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, Amazon’s senior vice president of Prime Video and Amazon Studios, said in a release. “It’s very exciting and provides so many opportunities for high-quality storytelling.”