Amazon Purchases MGM For $8.45 Billion

In a report from Deadline that just dropped a couple of hours ago, months of speculation have ended in a massive deal. Amazon is now the owner of Metro Goldwyn Mayer. There isn’t a ton of news coming from either Amazon or MGM this morning, but this is a massive deal for the streaming wing of the online giant.

Here’s what Mike Hopkins, senior VP of Prime Video and Amazon Studios had to say:

“MGM has a vast catalog with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys. 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.”