It appears that Amazon’s streaming content may be about to get a whole lot better, as according to a new report from Variety, the company is currently in talks to acquire legendary film studio MGM for a reported fee of $9 billion.
For those unfamiliar with MGM’s portfolio, an acquisition would mean that the likes of James Bond, Rocky, Stargate, Robocop, Viking, The Handmaid’s Tale, and Legally Blonde will become the property of Amazon should the deal go through. And as iconic as the likes of James Bond and the Rocky franchises are, perhaps an even bigger drawcard is the studio’s massive catalog of classic movies. MGM (officially Metro-Goldwyn-Mayer Studios Inc) is one of the oldest studios in Hollywood, dating back to its formation in 1924, and has a host of classic films from multiple decades from which to draw upon to fill a streaming service library. Arguably one of the richest catalogs in the movie world, even if it’s not the most profitable.
In fact, last year The Guardian reported that MGM had a library of 4,000 films and 17,000 hours of TV, which is an incredible amount of content. Sure, they may lack in big-name brands, but they certainly make up for it in sheer quantity and this will acquisition could make Amazon an owner of one of the biggest libraries of film and TV content ever. It will be interesting to see how Amazon will treat these properties, should it secure the deal. Not only would it own a massive collection of classic films, but it could easily remake many of them for modern audiences – which as Disney has proved – can also be a very lucrative business.
This news comes shortly after AT&T began spinning off Warner Media with Discovery. Even if the box office is quiet, the boardroom politics have arguably never been busier and it’s all because studios are trying to better align themselves for a future in streaming.
Last Updated: May 18, 2021