MGM, the legendary Hollywood movie studio, has officially joined Amazon's studios and video platform, the e-commerce giant announced Thursday, which paid $8.45 billion to better arm itself against competition in the entertainment sector.
“With more than 4,000 movies, 17,000 TV episodes, 180 Oscars 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 band has thus obtained a catalog that includes, among others, “James Bond” and “Rocky”, but also crime dramas such as “The Silence of the Innocents” or “Low Instincts”.
This is the second most expensive acquisition in Amazon history after buying US Whole Foods supermarkets for $13.7 billion in 2017.
The European Commission in Brussels announced on Tuesday that it had authorised the purchase without conditions, believing that the operation posed “no competition problems” in Europe.
However, the transaction is facing litigation in the United States. Concerned about Amazon's growing power over the subscription video streaming (SVOD) business, local 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, has called on the US Competition Authority (FTC) to oppose the transaction.
In this sense, he estimates that Amazon will control around 56,000 titles after this operation, well ahead of its Netflix rival, which would have just under 20,000 titles available.
When consulted by AFP, the FTC declined to comment on the issue.
Established in April 1924 by cinema owner Marcus Loew, MGM has become 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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