Amazon buys MGM for 8.45 billions!

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Gym_Lion

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#1  Edited By Gym_Lion
Member since 2020 • 1298 Posts

Amazon Buys MGM, Studio Behind James Bond, for $8.45 Billion - Variety

James Bond has a new home: Amazon and MGM announced a definitive merger agreement under which Amazon will acquire MGM for $8.45 billion.

MGM, founded in 1924, complements Amazon Studios, which has primarily focused on producing TV programming, the companies said. Amazon will help “preserve MGM’s heritage and catalog of films,” and provide customers with greater access to these existing works, the companies said.

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Hallenbeck77

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#2 Hallenbeck77  Moderator
Member since 2005 • 16054 Posts

Funny thing is, most of the movies that MGM made before 1984 (except the Bond series) are owned by Warner Bros. And that includes their library from the Golden Age of Hollywood.

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HEATHEN75

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#3 HEATHEN75
Member since 2018 • 1439 Posts

Just as the senate readies a $10 billion bailout for his space firm.

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warmblur

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#4 warmblur
Member since 2017 • 7493 Posts

Good now they can bring back the outer limits 1995 back to prime.

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lamprey263

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#5 lamprey263
Member since 2006 • 39260 Posts

@hallenbeck77: "Funny thing is, most of the movies that MGM made before 1984 (except the Bond series) are owned by Warner Bros. And that includes their library from the Golden Age of Hollywood."

I guess that explains why it went cheaper than I would have expected.

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Hallenbeck77

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#6 Hallenbeck77  Moderator
Member since 2005 • 16054 Posts

@lamprey263: It's a weird history with them. MGM was THE studio during Hollywood's golden age, but during the early '60s it fell hard due to bad decisions (such as focusing the entire year's production schedule on ONE big budget movie annually), multiple box office bombs, and fending off corporate raiders. One company came in and instead of focusing on the studio, used its name and prestige to create the MGM Grand hotel & casino.

From the '70s onward, the studio was bought & sold multiple times and even went through bankruptcy and emerged from it, but it's merely a shell of its former self. They don't even own the film that built its legacy, and that's kinda sad.

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one_plum

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#7 one_plum
Member since 2009 • 6616 Posts

Q is going to make sure Bond and filmgoers know that all those cool gadgets come from Amazon.

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Kadin_Kai

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#8 Kadin_Kai
Member since 2015 • 1647 Posts

I guess this is partly due to the pandemic. I am surprised more studios haven’t been sold, taken over or merged.

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DaVillain-

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#9 DaVillain-  Moderator
Member since 2014 • 46864 Posts

So when can I watch No time to Die on Amazon Prime? Still to be release on October 8th, 2021, it's way behind the hype as it is, Amazon Prime would be a surprised hit for sure. But of course I'll still watch it in theaters if its not coming to Amazon Prime that is.

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Hallenbeck77

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#11 Hallenbeck77  Moderator
Member since 2005 • 16054 Posts

@kadin_kai: MGM was a studio that has had financial issues for decades--long before the pandemic. Another factor was when Ted Turner bought the studio in the mid 1980s, only to sell it again months later--and keeping the entirety of MGM's film library from pre-1986 for himself and his own company.

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outworld222

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#12 outworld222
Member since 2004 • 3356 Posts

@warmblur: lol. I remember that show well.

Welcome……to the outer limits!!!! Lol.