After the merger of AT&T and Discovery content, this nearly $900 billion transaction resulted in more than 4,000 products.
The famous cat Leo from Metro Goldwyn Mayer (MGM) studio is about to roar for Amazon. Since the silent era, the technology giant has finalized the purchase of one of the pillars of Hollywood on Monday. This nearly $9 billion transaction will herald a new era in the streaming media market and follow the content merger of AT&T (Warner Corporation) and Discovery.If the purchase is confirmed, it will be in advance this Monday Wall Street Journal, Jeff Bezos’ company will integrate a powerful library of 4,000 books on its Prime platform, including the two most valuable franchises in the film industry recently, James Bond (James Bond). Bond and Rocky.
MGM will be expensive for Bezos. The entertainment company went public in December last year for $5.5 billion, but rumors that the technology company tried to expand its product range to 175 million users on its digital platform caused the stock price to rise. Only in the last few weeks, the price has risen from $105 to $140 this Monday, when American newspapers announced the purchase plan. This is Amazon’s second most expensive transaction since it acquired the organic supermarket chain WholeFoods in 2017.
This legendary studio was founded in 1924 by the merger of theater tycoon Marcus Loew with Metro Pictures and Goldwyn, the latter being merged by the famous producer Louis B. Mayer It has always been one of the most coveted works in the industry. For decades, the company has heard dozens of offers for acquisitions and mergers. Kirk Kerkorian, MGM’s casino mogul and CEO, made three sales and buybacks. He was also the one who brought the United Arts Company into the studio in 1981. This is another work in Hollywood history. This is by Charles Chaplin, Douglas Fairbanks, and Mary Pickford. And created by DW Griffiths.
In the new millennium, Time Warner and Sony showed interest in MGM and were close to completing the transaction in September 2004. Negotiations failed because its price was considered too high, which exceeded 5 billion US dollars at the time. In 2018, Gary Barber, the CEO of another Hollywood veteran, took over from Corcorian after his death in 2015. He explored the possibility of selling Apple for $6 billion. The barber was fired by the investor board because he participated in the negotiation and was too early. Analysts believe that waiting a few more years may make the company worth more than $8 billion.
That time has come. By the end of 2020, Anchorage Capital Group, the majority-owned New York investment fund of these production companies, sent a message to investment banks Morgan Stanley and LionTree: They are ready to sell. Culver City (Culver City) studio has more than 170 Academy Awards, of which 12 belong to the “best film” category. MGM has become a drag on Anchorage, which has reduced its revenue due to the pandemic that forced it to postpone film and television projects within a year.
As we all know, Metro no longer owns many Hollywood classic movies, and these classic movies help to establish its own name. Go with the wind The Wizard of Oz, For example, they are owned by WarnerMedia, which is owned by AT&T. These films and hundreds of other pre-1948 films were purchased by tycoon Ted Turner to launch his classic film channel.
However, the Bond franchise is one of the most valuable brands owned by MGM. These studios are the co-owners of these rights, as well as a production company linked to the Broccoli family, the creators of British spies. These films have generated more than 7 billion U.S. dollars in box office worldwide. Another asset owned by Amazon is the franchise of eight boxer films from the legends of “Rocky Balboa” and “Adonis Creed”, which have grossed more than $1 billion at the box office.
On TV, the company has also recently produced several hit songs, including a dystopian series Maid’s storyPlayed by Emmy Award-winning Elisabeth Moss (Elisabeth Moss). Fargo, This is a TV derivative of the movie of brothers Joel and Ethan Coen, and the owner of the TV series “Vikings” under MGM (MGM), which has Six seasons, now looking for the golden age of the future in the hands of the new Jeff Bezos (Jeff Bezos) Amazon Streaming.
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