MGM Studios could soon be bought by Amazon, according to reports. After AT&T signed a new deal agreeing to combine Warner Bros. with Discovery, it seems like another reputed Hollywood studio will be following suit. As Amazon Studios gears up to push further into the world of films, could this new deal finally be it? Let’s take a look.
As reported by Variety, Amazon is looking to acquire MGM for $9 billion. Talks between both parties apparently seem to have taken a turn this weekend with the start of negotiations.
Currently, the selling price ranges somewhere between $7 billion and $10 billion, although some industry insiders claim its worth is closer to $5 billion. Neither Amazon nor MGM has confirmed the news of discussions having taken place yet.
MGM’s extensive collection of films makes them a valuable asset of the streaming giant. The James Bond and Creed franchises continue to go strong, with new installments set to release soon.
The studio is also the owner of the rights to the Stargate franchise, which comprises the original film and the television spin-offs. MGM’s subdivisions include United Artist and Orion Pictures’ film catalog, which consists of franchises like The Bill, Ted, and Robocop.
Upon acquisition, these titles could be made Amazon Prime exclusives and become the starting point for new movie and television productions. Amazon is currently producing the upcoming Lord of the Rings series, and MGM was the producer of The Hobbit trilogy.
Thus, Amazon could become the one-stop for all things Tolkien in the near future. Following WarnerMedia’s union with Discovery, this news indicates a new creative shift in Hollywood.
While Disney’s purchase of Marvel Studios, Pixar Animation, and Lucasfilm was considered important stories, the attainment of 20th Century Fox marked the end of one of the world’s biggest and oldest film studios. If MGM were to become a part of Amazon, that would mean another longtime Hollywood studio gone, leaving the playing field to Disney, Lionsgate, Paramount, Sony Pictures, Universal, and Warner Bros.