As the dust settles from a potential WarnerMedia and Discovery merger, The Information is reporting that Amazon is stepping in to buy MGM. This will not only bolster their streaming library with new and old titles, but it gives them access to a studio lot they can use to prioritize more original content.
The offer Amazon made to buy MGM is around $9 billion, according to Variety.
MGM owns titles such as Carrie, Logan's Run, Get Shorty, The Real Housewives of Beverly Hills, The Hills and has franchises such as Creed and James Bond. It's a deep catalog full of profitable titles Amazon can use to spin into their own reboots, remakes, and intellectual property. Not to mention showcasing the popular originals.
MGM has been a force in movies and television for almost 100 years. Why would MGM sell?
We know they were expecting the new James Bond film to bring in cash, and COVID made sure that never happened. They entertained offers for the movie franchise installment to debut on streamers, but no deals were reached. In recent years, MGM has come through several financial struggles and we've reported that they've been looking to sell at least since December 2020.
This is a no-brainer for Amazon if they have the cash. They already have over 200 million subscribers and want to gather more by the day. Adding MGM's works can help them diversify and tap into old Hollywood. They'll control franchises and buy pedigree.
We'll let you know as it shakes out!
