Amazon has closed its $8.5 billion acquisition of MGM. The film studio, founded in 1924, will bring Amazon a catalog of more than 4,000 movies and 17,000 TV shows, including the James Bond and Rocky movie franchises.
, in part because “MGM’s content cannot be considered as must-have.” The European Commission, in its antitrust review, found that the overlaps between the Amazon and MGM businesses are “limited.”
The companies have not yet disclosed what leadership will look like at the now-merged MGM and Amazon, where Jennifer Salke is currently the head of Amazon Studios and industry chatter has led to speculation she could serve as the chief of a combined studio. It’s unclear if MGM’s executive team, which includes film chief Michael De Luca and television group head Mark Burnett, will stay on after the merger.
Chris Brearton, chief operating officer of MGM, added: “We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family. 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.
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