Amazon Buys 100-year-old MGM for Rs 61,000 crore: MGM is a Hollywood production business with a long history. It has produced and owned roughly 4,000 films and 17,000 television series, which Amazon’s studios, film, streaming, and television departments are reported to benefit greatly from.
Meanwhile, Mike Hopkins, vice president of Amazon Studios and Prime Video, said he was eager to continue to improve and revive MGM’s collaboration with their team.
Amazon is rumoured to be planning to buy MGM, according to stories in the US media in recent weeks. However, neither party has verified this, and the transaction has now been officially terminated. MGM has produced a number of well-known films, including “James Bond,” “Rocky,” “Basic Instinct,” and “Robot Cop.” ‘Barco, Vikings’ is one of its web series. With all of this in Amazon’s hands, the quantity of works available on Amazon’s Prime streaming service will not dramatically increase. The number of Prime subscribers will grow as a result.
Several other companies compete with Amazon in this space, including Apple, Disney, Hulu, and Netflix. With this agreement, Jeff Bezos’ firm, the world’s second richest person, will gain access to a plethora of premium content, allowing it to become the world’s most popular streaming platform. Is capable of becoming. With 150 million users, it is currently second only to Netflix. Netflix has a subscriber base of 200 million people.
MGM Studios was formed in April 1924, thus Amazon will now possess dozens of award-winning and box office-dominating films and television series from the past nearly 100 years. These include historical reality shows such as “The Handmaid’s Tale” and the “Real Housewives” franchise, among others. This will allow him to branch out from Netflix and Disney+.
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