00:00It's official, Amazon is acquiring MGM Holdings in a landmark mega deal in a bid to turbocharge
00:05its Prime membership offering and potentially mine intellectual property from MGM's franchises.
00:11MGM boasts one of the largest film and TV libraries, including the Rocky, Hobbit, and
00:16James Bond film franchises.
00:22Why would I betray you?
00:24We all have our secrets.
00:26We just didn't get to yours yet.
00:28Its library also includes numerous classic Hollywood titles like 1980's Raging Bull,
00:331987's Moonstruck, and 1991's Thelma and Louise and Silence of the Lambs.
00:38Meanwhile, MGM-TV produces series like Fargo, Vikings, and The Handmaid's Tale.
00:43We came here to fight.
00:45No, you came here to fight.
00:48You can't save her.
00:49You understand that, right?
00:51Some women don't want to be saved.
00:53The studio also has a stake in The Voice and Shark Tank.
00:55The deal, pending regulatory approval, values the studio at $8.45 billion.
01:01Senior VP of Prime Video and Amazon Studios Mike Hopkins said,
01:05The real financial value behind this deal is the treasure trove of IP in the deep catalog
01:09that we plan to reimagine and develop together with MGM's talented team.
01:13It's very exciting and provides so many opportunities for high-quality storytelling.
01:18Amazon disclosed in April that 175 million Prime members have viewed movies and TV shows
01:23on its platform in the past year, including original series like The Marvelous Mrs. Maisel
01:27and films such as Borat's subsequent movie film, One Night in Miami, and Sound of Metal,
01:32among other titles.
01:33The company is battling Netflix as well as Disney Plus for global supremacy among top
01:38streaming platforms.
01:39The sale of MGM marks the newest chapter for the venerable studio whose history dates back
01:44nearly a century.
01:45Metro-Goldwyn-Mayer was founded in 1924 by movie theater chain mogul Marcus Lowe.
01:50MGM produced such films as The Wizard of Oz and the highest domestic-grossing film of all
01:55time adjusted for inflation, Gone with the Wind.
01:57For much more on this story, go to THR.com.
02:00For The Hollywood Reporter News, I'm Tiffany Taylor.
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