MGM, the legendary Hollywood film studio, officially joined Amazon's studios and video platform, announced on Thursday the e-commerce giant, which paid $8.45 billion to better arm itself against competition in the entertainment sector.
“With more than 4,000 films, 17,000 TV episodes, 180 Academy Awards and 100 Emmy Awards, the nearly century-old historic studio will complement the work of Prime Video and Amazon Studios to provide customers with a variety of entertainment options,” said an Amazon statement.
Amazon announced in May 2021 the acquisition of MGM. The Seattle group thus obtained a catalog that includes, among others, “James Bond” and “Rocky”, but also police dramas such as “The Silence of the Innocents” or “Low Instincts”.
This is the second most expensive acquisition in Amazon's history following the purchase of US supermarkets Whole Foods for $13.7 billion in 2017.
The European Commission in Brussels announced on Tuesday that it had authorized the purchase without conditions, considering that the operation did not pose “any competition problems” in Europe.
However, the transaction faces a dispute in the United States. Concerned about Amazon's growing power over the subscription video streaming (SVOD) sector, area unions are trying to prevent it, with the support of political figures.
The Strategic Organizing Center, a federation that claims to represent nearly four million employees, called on the US competition authority (FTC) to oppose the transaction.
In that sense, he estimates that Amazon will control around 56,000 titles after this operation, well ahead of its rival Netflix, which would have just under 20,000 titles available.
When consulted by AFP, the FTC declined to comment on the matter.
Created in April 1924 by movie theater owner Marcus Loew, MGM became one of the most important studios in Hollywood with a constellation of stars such as Greta Garbo, Joan Crawford, Clark Gable, Katharine Hepburn and Elizabeth Taylor.
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