July 2, 2022
MGM is Now Owned By Amazon

MGM is Now Owned By Amazon

Posted March 17, 2022 at 8:07pm by iClarified · 4036 views
Amazon has announced that it has officially completed its acquisition of MGM for $8.45 billion. The near century old studio has over 4,000 film titles and 17,000 TV episodes that now join Prime Video and Amazon Studios offerings.

"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, senior vice president 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."

"We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family," said Chris Brearton, chief operating officer of MGM. "MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come."

There were some rumors that the FTC could challenge the deal and it still could; however, the European Union has approved the acquisition unconditionally, saying...

Based on its market investigation, the Commission found that the transaction, as notified, would not significantly reduce competition in the markets for (i) the production and supply of AV content, (ii) the wholesale supply of TV channels, (iii) the retail supply of AV services, (iv) the production and licensing of distribution rights to third-party distributors of films for theatrical release and (v) the provision of marketplace services. These markets are found to be likely national in scope.

The addition of MGM's collection to Prime Video will help the company in its fierce streaming battle with competitors like Netflix, Disney, and Apple TV+. You can get a free trial of Amazon Prime here.


MGM is Now Owned By Amazon
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