People/Biz

Amazon completes acquisition of MGM

Amazon’s US$8.45 billion acquisition of MGM is complete, the company announced on Thursday (March 17). Two days after the European Commission gave its unconditional approval to the acquisition, Amazon released a ...
March 17, 2022

Amazon’s US$8.45 billion acquisition of MGM is complete, the company announced on Thursday (March 17).

Two days after the European Commission gave its unconditional approval to the acquisition, Amazon released a statement announcing MGM had officially joined Amazon. Past work from the nearly century-old studio will complement Prime Video and other Amazon Studios work.

After the EU’s approval, Amazon still faced a potential hurdle in the U.S. Federal Trade Commission. According to a report in the Wall Street Journal, Amazon has recently certified to the FTC that it has provided all documentation related to the MGM acquisition that was requested by antitrust investigators, which gives the commission a mid-March deadline to determine whether it wants to mount a legal challenge to the deal. With the deadline seemingly passed, Amazon announced it had completed the deal without a public response from the FTC.

MGM’s catalog includes more than 4,000 films and 17,000 TV episodes. Throughout its history, MGM has racked up more than 180 Academy Awards and 100 Emmy Awards, and the studio boasts popular IP like the James Bond and Rocky franchises under its umbrella. MGM is also the parent company of cable net Epix and MGM TV. The TV unit is behind unscripted hits like Survivor, The Voice  and Shark Tank.

“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,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios, in a news release. “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.”

After the Wall Street Journal reported in 2020 that MGM was exploring a sale, news of Amazon’s acquisition broke last May.

About The Author
Andrew Tracy joined Realscreen as associate editor in 2021, following 17 years as managing editor of the award-winning international film magazine Cinema Scope. From 2010 to 2020 he also held the position of senior editor at the Toronto International Film Festival, where he oversaw the flagship publication for the organization’s year-round Cinematheque programming and edited its first original monograph in a decade, Steve Gravestock’s A History of Icelandic Film. He was a scriptwriter and consultant on the first season of the Vice TV series The Vice Guide to Film, and his writing and reporting have been featured in such outlets as Cinema Scope, Reverse Shot, Sight & Sound, Cineaste, Film Comment, MUBI Notebook, POV, and Montage.

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