Amazon to buy MGM for $8.5 billion

• Author: Arutz Sheva Staff
• Published date: 26 May 2021
• Date: 26 May 2021
• Publication title: Israel National News (Israel)

The purchase gives Amazon access to MGM's trove of 4,000 films and 17,000 TV shows, including classic franchises such as James Bond and Rocky, at it seeks to expand its entertainment division.

MGM Chairman Kevin Ulrich said: "The opportunity to align MGM's storied history with Amazon is an inspiring combination."

"The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM's talented team," said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. "It's very exciting and provides so many opportunities for high-quality storytelling."

"It has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I...