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James Bond - Mike Hopkins - Amazon closes $8.45B MGM studio acquisition - fox29.com - state California - county Hill - city Beverly Hills, state California
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Amazon closes $8.45B MGM studio acquisition
General view of MGM Studios on October 28, 2020 in Beverly Hills, California. (Photo by AaronP/Bauer-Griffin/GC Images) Amazon has closed its $8.45 billion acquisition of Metro-Goldwyn-Mayer Studios as it looks to boost its streaming service offerings to compete with entertainment rivals Netflix and Disney. The move will allow Amazon to leverage MGM's catalog of more than 4,000 film titles and 17,000 TV episodes, including franchise favorites such as "James Bond," "Rocky" and "Creed," and classics such as "Thelma & Louise," "The Silence of the Lambs," "The Magnificent Seven" and "Raging Bull."  "MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience," Amazon Studios and Prime Video senior vice president Mike Hopkins said in a statement. "We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers." The deal, which was first announced in May 2021, closed without being challenged by the Federal Trade Commission. In August, the FTC received a letter from the Strategic Organizing Center, a democratic union federation representing more than 4 million workers in the Service Employees International Union, the International Brotherhood of Teamsters, the Communications Workers of America and the United Farmworkers.
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