You might have heard the news that Amazon bought the legendary movie studio MGM. It was a huge deal that sent ripples through the entertainment world, bringing a library of iconic films and characters under the Amazon umbrella. But when exactly did this massive acquisition happen, and what did it mean for your next movie night?
The Official Closing Date of the MGM Deal
After a lengthy regulatory review process, Amazon officially closed its acquisition of MGM on March 17, 2022. The deal was first announced nearly a year earlier, in May 2021, for a staggering $8.45 billion. This purchase was all about the content, giving Amazon Prime Video a treasure trove of new material to offer its subscribers.
What Amazon Gained from the MGM Library
So, what did Amazon actually get for its billions? The answer is a piece of Hollywood history. The MGM library contains over 4,000 films, including beloved franchises like James Bond, Rocky, and Creed. It also includes acclaimed television shows such as The Handmaid’s Tale and Vikings. This instantly boosted the value of a Prime subscription, giving you more reasons to stay subscribed.
How This Acquisition Affects Your Viewing
For those of us with a Prime membership, the benefits are clear. You now have easier access to a vast collection of classic and modern hits without needing an additional subscription. More importantly, Amazon now controls these iconic characters, meaning we can expect new movies and series based on the MGM catalog. The first major project, a new Lord of the Rings film, is already in the works, showing how Amazon plans to leverage its new assets.
In the end, Amazon’s purchase of MGM was a strategic move to compete directly with other streaming giants. By adding such a legendary studio to its portfolio, Amazon has significantly strengthened its position in the ongoing battle for your screen time, ensuring Prime Video remains a major player for years to come.
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