Amazon has officially acquired iconic Hollywood movie and television studio Metro Goldwyn Mayer (MGM) in a landmark $8.5 billion deal, further solidifying its position in the global entertainment industry. The e-commerce giant completed the purchase after confirming compliance with all requirements from the U.S. Federal Trade Commission (FTC) regarding antitrust reviews.
MGM, the studio behind global hits like James Bond and Rocky, hasn’t won a Best Picture Oscar since 1991 but remains one of the most recognized names in entertainment history.
What Amazon is Saying
In a statement, Amazon welcomed all MGM employees, noting that the studio’s leadership would remain intact—indicating no layoffs at this time.
Mike Hopkins, SVP of Prime Video and Amazon Studios, said:
“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.”
Chris Brearton, COO of MGM, also commented:
“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 with the Prime Video family.”
Strategic Implications
The acquisition significantly boosts Amazon’s Prime Video content library, enabling it to remake classic MGM titles as new movies and TV series. Although Amazon hasn’t detailed its full strategy, industry experts believe this deal gives Amazon a competitive edge in the streaming wars alongside Netflix, Disney+, and Apple TV+.
Amazon has reportedly stated the main motivation behind the purchase was MGM’s rich content library, which includes over 4,000 films and 17,000 TV shows.
What This Means for Hollywood
With this acquisition, Amazon is making a bold play for deeper integration into Hollywood production. Already a major player through Amazon Studios, the MGM acquisition may mark a turning point in Amazon’s push for award-winning content, including potential future Oscar wins.
Forbes reports that MGM shareholders have advocated for the studio to continue operating as a standalone label under the Amazon umbrella, as it has recently shown momentum by acquiring rights to high-profile movie projects.
Looking Ahead
While it’s too early to determine the long-term impact, the purchase clearly signals Amazon’s intention to become a dominant force in both streaming and theatrical film production. With Jeff Bezos at the helm of one of the world’s most valuable companies, the move could reshape the dynamics of modern entertainment.
