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(Credit: Bryan Angelo)

Film

Amazon has now acquired MGM after closing $8.5 billion deal

Since last year, there have been many reports about a merger between Amazon and MGM but it is finally a reality. Amazon has acquired MGM after closing an $8.5 billion deal, making this Amazon’s second biggest acquisition after they purchased Whole Foods. The deal also signifies a lot of potential changes for the landscape of streaming.

The announcement has sparked a lot of debate on social media platforms, with many official bodies also passing their judgement on the deal. The European Commission stated that this merger would not reduce the competition in the market but the US government has not made any comments about Amazon’s recent acquisition.

Amazon released a statement after the deal which said: The storied, nearly century-old studio — with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards — will complement Prime Video and Amazon Studios’ work in delivering a diverse offering of entertainment choices to customers.”

While addressing the history and future of MGM, the studio’s Chief Operating Officer Chris Brearton also released a statement saying: “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.”

Adding, “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.”