Amazon.com Inc. has inked an $8.45-billion merger agreement to acquire MGM Studios Inc., according to the official press release.
- Amazon Studios and Prime Video Senior Vice President Mike Hopkins said the company will benefit through the deep catalog of MGM.
- The deal will give Amazon access to MGM’s catalog of over 4,000 films and 17,000 television shows.
- Notable titles include Silence of the Lambs, Tomb Raider, Creed, James Bond, Fargo, Then Handmaid’s Tale, and Vikings.
- Hopkins said Amazon plans to “reimagine” and develop the catalog with the MGM team.
- The acquisition is Amazon’s second-largest purchase after buying Whole Foods for $13.7 billion in 2017.
- MGM hit a $5.5 billion valuation in December, and had around $2-billion worth of long-term debt at end-March.
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