Amazon to acquire MGM in $8.45 billion deal

Amazon.com Inc. said Wednesday that it will acquire MGM in an $8.45 billion deal. MGM’s catalog includes more than 4,000 movies including the James Bond films, “Rocky,” “Thelma & Louise” and “Silence of the Lambs,” as well as 17,000 TV shows like “The Handmaid’s Tale” and “Vikings.” Upcoming titles include “House of Gucci” starring Lady Gaga and Adam Driver, and “No Time to Die.” “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. It’s very exciting and provides so many opportunities for high-quality storytelling,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios, in a statement. There had been media reports that the deal was in the works. Amazon stock is nearly breakeven for the year to date while the S&P 500 index is up 11.5% for the period.

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