Amazon set for EU approval of MGM buy
March 9, 2022
Amazon is expected to win EU antitrust approval for its $8.5 billion (€7.6bn) buy of MGM, reports Reuters.
The MGM acquisition would bring a movie library and franchises including James Bond and Rocky. It also licenses content for video games, which could benefit Amazon’s development efforts in that area.
The Federal Trade Commission is also nearing its deadline to rule on the deal.
When news of a deal first emerged in May 2021, Mike Hopkins, SVP of Prime Video and Amazon Studios, commented: “MGM has a vast catalogue with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons – as well as 17,000 TV shows – including Fargo, The Handmaid’s Tale, and Vikings – that have collectively won more than 180 Academy Awards and 100 Emmys. The real financial value behind this deal is the treasure trove of IP in the deep catalogue that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling.”