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Amazon roars for MGM’s lion, to pay more than $8bn for studio

Business

Amazon roars for MGM’s lion, to pay more than $8bn for studio

The deal aims to provide MGM with new historical films to support Amazon’s remote studios. Since its establishment in 1924, MGM has gained a reputation on its own and has launched other lucrative films, such as “Rocky” and “The Pink Panther.” The club has fast delivery and has the ability to buy more products when joining.

The privately-owned MGM or Metro Goldwyn Mayer also owns Epix cable channels and produces popular TV shows such as Fargo, Vikings, and Shark Tank. Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a press release that the MGM library is feature-rich.

He said: “The true financial value of this business is a hidden treasure (intellectual property) in an extensive catalog. We are working with the talented MGM team to develop and grow.” Facing Netflix Inc., Disney + Walt With multiple competitors such as Disney Co., HBO Max, and Apple TV + Apple Inc., Amazon Prime Video is entering the international market to capture the pandemic-induced transformation of the show.

The football league is worth $1 billion per year. Streaming media services compete for brand expansion and libraries of old shows and movies. Analysts believe that this is an important driving force for another round of media ownership mergers after a brief interruption during the pandemic.

Amazon roars for MGM’s lion, to pay more than $8bn for studio

credit: Dawn

LAST THOUGHTS:

The club has fast delivery and has the ability to buy more products when joining. Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a press release that the MGM library is feature-rich. We are working with the talented MGM team to develop and grow.

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