In brief: Amazon's acquisition of MGM has finally been completed. So from now on, MGM's 4,000 movies, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards now "belong" to Amazon and will probably be introduced to Amazon Prime Video soon.
Amazon announced it would purchase MGM in 2021 for $8.45 billion, but like most acquisitions from big companies, they need to be reviewed by FTC. Rumor was the authority would challenge the deal, but almost a year has passed since the announcement, and nothing happened.
Earlier this month, a separate report claimed Amazon had sent all the necessary data to FTC so they could evaluate the acquisition. Moreover, it informed the agency that it would close the deal with MGM in mid-March, even if the FTC didn't respond within the deadline.
Amazon kept its word and announced the deal to buy MGM was complete, introducing the nearly century-old media company to Amazon Studios. As a result, MGM's vast lineup of movies like Thelma & Louise, The Silence of the Lambs, The Magnificent Seven, Raging Bull, and older classics will soon be integrated into Amazon Prime Video. Additionally, long-running franchises such as James Bond, Rocky, and others, will eventually become available.
So excited to share that MGM is now part of Prime Video and Amazon Studioshttps://t.co/M3eR5C0kjJ--- MGM Studios (@mgmstudios) March 17, 2022
"MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience," said Mike Hopkins, SVP of Prime Video and Amazon Studios. "We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers."
Amazon's acquisition of MGM will surely expand its Prime Video lineup, but the tech giant isn't the only one pulling more content to its platform. Less than a year ago, WarnerMedia announced it would merge with Discovery to create a new global entertainment company. For now, HBO Max (Warner) and Discovery+ are still two separate apps, but once the merger closes, the two will combine into a massive streaming service.