The tumors have been around for months that MGM was up for sale, possibly to a major streaming outlet. And now it looks to be true. Industry sources (via Variety) say Amazon is on the verge of a $9B deal to acquire MGM and its extensive library which includes twelve Oscar winners and multiple franchises.
This is just the way of the business right now, with arguably the most revered movie studio of all-time going to a streamer like Amazon. These rumors perked up when MGM began pitching the long-delayed No Time to Die to Netflix and other digital outlets. That deal fell through, but the talk about it never really stopped, and elevated after this morning’s news of WarnerMedia going to Discovery.
The acquisition would give Amazon a ton of new content to bolster their Prime subscription service. Obviously, having control of James Bond is the golden nugget here, but also the Rocky and Creed franchises, the Fargo TV series, The Handmaid’s Tale, Robocop, Legally Blonde, and so much more. They also have Ridley Scott’s upcoming film House of Gucci.
This is all positioning in the streaming wars, and Amazon may have just made a serious power move. Neither Amazon or MGM has commented on this yet, though, so we’ll just have to stay tuned.