Amazon is in talks to buy MGM Studios for $9 billion

midian182

Posts: 7,060   +62
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Why it matters: MGM, one of Hollywood’s most famous studios, could be acquired by Amazon for $9 billion. Parent company MGM Holdings has reportedly been seeking a buyer since the end of 2020. Should the tech giant close the deal, it will gain access to a movie and TV catalog stretching back nearly 100-years, with titles that include classics Ben-Hur and The Wizard of Oz to James Bond and The Handmaid’s Tale.

Variety reports that Amazon is one of several tech firms to have shown interest in acquiring MGM and its (now CGI) iconic Leo the Lion logo. The purchase price could reach anywhere between $7 billion – $10 billion, though the studio reps are said to be looking for $9 billion.

Bloomberg reports that MGM also discussed other options with different companies, including talks with Apple and Netflix about releasing the much-delayed James Bond film No Time To Die directly to a streaming service. MGM has since confirmed the next entry in the 007 franchise will get a theatrical release on October 8 in the US.

MGM says it has one of the world’s “deepest libraries” of film and TV content. Among its 4,000 movies are The Hobbit, Rocky/Creed, and the Robocop franchises, along with The Silence of the Lambs and The Magnificent Seven. Its TV library, consisting of 17,000 episodes, includes Stargate SG-1, Stargate Atlantis, Fame, Fargo, and The Voice.

A $9 billion price tag is a significant investment for any company, but it’s still less than the $11 billion Amazon spent on its TV shows, movies, and music for Prime services last year.

News of the potential deal comes days after AT&T announced plans to spin off its WarnerMedia unit and combine it with Discovery to create a new streaming giant.

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Avro Arrow

Posts: 1,713   +2,021
TechSpot Elite
Just when you thought that the current oligarchy couldn't get any worse...

Along comes Lex Luthor Jeff Bezos.

71e9c-16123285901062-800.jpg
 

Squid Surprise

Posts: 4,126   +3,314
I'm fine with it.... already have an Amazon Prime membership and this would theoretically see my subscription now give me more than double its existing content... I'd love to have a Bond Marathon next year :)
 

Avro Arrow

Posts: 1,713   +2,021
TechSpot Elite
I'm fine with it.... already have an Amazon Prime membership and this would theoretically see my subscription now give me more than double its existing content... I'd love to have a Bond Marathon next year :)
Ack! No Squid, don't support the bad, bald man!
I don't like Bezos, but I don't know why. Maybe it's a wrong first impression.
Geralt, if you don't like Bezos, then it's a RIGHT first impression.
 

p51d007

Posts: 2,824   +2,175
No thanks...I don't like all these companies gobbling up each other.
Walmart has killed the mom & pop stores. Amazon has pretty much killed the shopping
malls & strips. AT&T has almost put herself back together after the breakup in the 80's.
Competition spurs more innovation, helps keeps prices competitive.
 

Avro Arrow

Posts: 1,713   +2,021
TechSpot Elite
That's a common reaction to meeting a sociopath, and the majority of CEOs are sociopaths. It comes with the personality type most likely to become a C suit executive.
Yep, a sociopath's personality is dominated by greed and a lust for power without regard for human life. A psychopath is the same but is born that way, making them even worse because they have no concept of another way of thinking.

Both are perfect for CEOs who only care about stock value and short-term profits.

A good analogy for psychopath and a sociopath (both have anti-social personality disorder) is that, in a psychopath, it's a hardware issue while in a sociopath, it's a software issue (like a bad update).
PSYCHOPATH: Sheev Palpatine (born evil)
SOCIOPATH: Anakin Skywalker (born good, turned evil)
 
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