Welcome to Amazon, James Bond.
The tech giant finalized its $8.5 billion acquisition of Hollywood studio MGM, the company said. This is Amazon’s second-largest acquisition ever, only behind its $13.7 billion purchase of Whole Foods in 2017.
“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, svp of Prime Video and Amazon Studios, 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 studio holds rights to more than 4,000 films—including the James Bond and Rocky franchises—and more than 17,000 hours of TV, including The Handmaid’s Tale, Shark Tank and Survivor.
“We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family,” said Chris Brearton, chief operating officer of MGM, in a statement. “MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”
The move further cements Amazon’s formidable spot in the streaming landscape, giving the company access to MGM’s vast library.
It also gives Amazon control of the James Bond brand after Sony’s distribution deal expired following 2015’s Spectre. The latest film in the franchise, No Time to Die, was set to be distributed by MGM in 2020, but was pushed back three times to an October 2021 release due to Covid-19.
The deal was first announced last May.
