Amazon and Metro-Goldwyn-Mayer (MGM) on Wednesday announced that they have made a merger agreement stating that Amazon has acquired MGM for a purchase price of $8.45 billion. MGM, which has delighted audiences around the world with their films, has nearly a century of filmmaking history and also holds the rights to some of the biggest blockbuster franchises. With this latest massive acquisiton, Amazon will continue to preserve MGM's grand heritage and catalogue of films, while providing customers a greater and better access to them. 

Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios, said, "MGM has a vast catalogue with more than 4,000 films—12 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons—as well as 17,000 TV shows—including Fargo, The Handmaid’s Tale, and Vikings—that have collectively won more than 180 Academy Awards and 100 Emmys." He added, "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."

Likewise, Kevin Ulrich, Chairman of the Board of Directors of MGM said, "It has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day." He further stated, "I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination."