Amazon has confirmed that it is negotiating an agreement for that Acquisition of the production company Metro Goldwyn Mayer (MGM). Jeff Bezos’ company would be willing to pay between $ 7,000 million and $ 10,000 million to acquire the catalog of films and series from the legendary producer The Roaring Lion.
Amazon would be willing to pay between 7,000 and 10,000 million for the MGM film archive
MGM had been trying to sell its studio and film archive to a digital platform since last December. Since then, several large tech companies have tried to buy it without reaching an agreement … maybe until now.
At the head of the ongoing negotiations on the part of Amazon are the Vice President of Amazon Studios and Prime Video, Mike Hopkins, who is negotiating directly with Kevin Ulrich, the Chairman of the MGM Board of Management and the company’s largest shareholder. If the purchase is made it would be Amazon’s largest acquisition in the entertainment industry.
The tech giant is devoting more and more resources to this aspect of its business. In 2020, Amazon spent $ 11 billion, 40% more than in 2019, buying TV shows, music content, and the best movies on Amazon Prime Video, which already has 200 million users worldwide. Amazon is now trying to promote this platform and the purchase of the MGM catalog is a move that points in that direction.
MGM has the world’s most comprehensive archive of cult films and television content consisting of more than 4,000 titles and 17,000 hours of advertising. Its catalog includes classic legends from film history such as James Bond, The Hobbit, Rocky and The Pink Panther; Films like “The Silence of the Lambs” or “The Magnificent Seven” and thousands of episodes of hit series: “Vikings”, “The Handmaid’s Tale”, “Fargo” or “Fame”.