Amazon, the commercial company, founded by Jeff Bezos, is looking forward to expanding the business. This is being done typically in the world of entertainment. According to reports, it is soon to acquire MGM, the American media company. The announcement was made by Amazon on Wednesday. It was stated that a deal had been finalized between the two. MGM is an extremely iconic movie studio in the entirety of Hollywood. It is regarded to be the home of the action thriller sequel, James Bond.
MGM Acquisition To Be Beneficial
The total amount of the said deal is said to be 8.45 billion USD. Once the deal gets finalized, it will be very beneficial for the company of Jeff Bezos. Amazon Prime Video will be able to tap a number of classic TV shows and films nourishing its content. Mike Hopkins, the head of Amazon Studios gave an insight into the number of shows on the MGM which is 17,000 TV series and 4,000 films.
Hopkins further spoke on the nature of the deal with MGM. He stated that the authentic value of the said deal is the coalition of the two different media channels. He stated that the team was extremely excited to work with the talented team of MGM. The head further stated that it was an extremely exciting and interesting opportunity to deliver a high-quality storytelling service.
Jeff Bezos, the CEO of Amazon gave a statement on his views following the deal. He stated that the company was very excited to acquire MGM. The statement was given at the meeting of the company’s annual shareholder that took place this Wednesday. It has also been reported that the complete acquisition will take place after the completion of some customary and regulatory approvals.