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Amazon Buys Hollywood MGM for $8.5 Billion, Movies James Bond & Rocky
19th March 2022 | Hong Kong
Amazon has confirmed its $8.5 billion acquisition of Hollywood MGM with movies including James Bond, Rocky, Ben-Hur, Robocop & Legally Blonde, after the deadline has passed for the United States Federal Trade Commission to oppose the deal. In the same week, the European Commission had also approved the deal. MGM will expand Amazon Prime Video with more than 4,000 film and 17,000 TV shows to compete with rivals Netflix and Disney+. The $8.5 billion deal was first announced in 2021 May. Amazon was founded in 1994 by Jeff Bezos and has a market capitalization of more than $1.64 trillion today (18/3/22). Metro-Goldwyn-Mayer Studios (MGM) is an American media company founded in 1924, formed by Marcus Loew (Merger of Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Pictures). In 2010, MGM filed for Chapter 11 bankturpcy protection and reorganisation.
“ Amazon Buys Hollywood MGM for $8.5 Billion, Movies James Bond & Rocky “
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Amazon & MGM
Amazon is a US based multinational company which operates a range of businesses including retail, entertainment, consumer electronics and technology services. Amazon is active in the (co-)production of AV content through Amazon Studios, which is available alongside third-party content on Amazon’s home entertainment offering, Prime Video, available to consumers in the EEA and globally.
MGM is a US based company which is active in the production and distribution of AV content in the EEA and globally. MGM also offers a wholesale channel, MGM+, in a number of EEA jurisdictions via retail distributors Prime Video, Zattoo, and Mediaset.
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