Amazon named as a candidate to get MGM for $9 billion

[Y2kTheNewOldies]

Amazon Said to Make $9 Billion Offer for MGM

Amazon is weeks into negotiations on a deal to acquire MGM for about $9 billion, industry sources tell Variety. Chatter that Amazon and other tech and media giants have been sniffing around MGM has…

variety.com

Note this proposed deal if approved Amazon Studios will get the ownership to the MGM film and TV library.

Its 4,000 film titles include the James Bond, Hobbit, Rocky/Creed, RoboCop and Pink Panther franchises, as well as movies like “The Silence of the Lambs,” “The Magnificent Seven” and “Four Weddings and a Funeral.” The MGM TV library includes approximately 17,000 episodes of programming, including “Stargate SG-1,” “Stargate Atlantis,” “Stargate Universe,” “Vikings,” “Fargo,” “The Handmaid’s Tale,” “Get Shorty,” “Condor,” “Fame,” “American Gladiators,” “Teen Wolf” and “In the Heat of the Night.” Unscripted shows in its portfolio include “The Voice,” “Survivor,” “Shark Tank,” “”The Real Housewives of Beverly Hills” and “The Hills.”

For Amazon, media is a relatively small piece of its gargantuan empire but represents a fast-growing business segment. In 2020, the company spent $11 billion on TV shows, movies and music for Prime services — up 40% from the year prior.

 

[Y2kTheNewOldies]

Amazon Wants to Buy MGM for Its 4,000-Film Library

Amazon spends billions on new movies and shows each year, but new content is only part of the streaming-wars equation.

finance.yahoo.com

Parts of this is to compete against other TV/Movie apps such as Netflix, Hulu, Disney+, Paramount+, HBO Max, Discovery+ and Peacock. Note there is also a talk about WarnerMedia taking over Discovery+ as of this week.

 

[Marcos_C]

Note there is also a talk about WarnerMedia taking over Discovery+ as of this week.

Actually, AT&T is planning to merge WarnerMedia with Discovery, not just Discovery+. The CEO of Discovery is the one who will be taking charge of the new media company, so it's really the other way around.

 

[Y2kTheNewOldies]

Actually, AT&T is planning to merge WarnerMedia with Discovery, not just Discovery+. The CEO of Discovery is the one who will be taking charge of the new media company, so it's really the other way around.

Yes good point its Discovery Communications in talks to merge with WarnerMedia.

 

[TheBigA]

So from what I see in the OP, this is the last 40 years of MGM, not the classic 40s 50s 60s MGM that Turner bought and is now part of Warner Media. They may get some copyrights in the process that the new MGM held, after the Turner purchase. It wouldn't surprise me if this package was floated in front of AT&T, so they could keep the MGM collection together. But they chose to instead do the Discovery deal. Of course the old MGM lot in Culver City was bought 30 years ago by Sony Pictures, and they do a lot of TV production there.

 

[Y2kTheNewOldies]

Breakingviews - Amazon’s world is already enough without MGM

Amazon.com’s (AMZN.O) talks to acquire MGM Holdings deserve a critical review. The $1.7 trillion e-commerce giant already has huge clout in what consumers buy. Buying the studio that owns James Bond and Rocky would make it a bigger force in what they watch too. For U.S. competition watchdogs...

www.reuters.com

Here is discussion on Amazon without MGM and it's impact.

 

[Y2kTheNewOldies]

4 Reasons Amazon Would Be Smart to Acquire MGM Studios | The Motley Fool

The prospective pairing brings much more to the table than the addition of some more entertainment content.

www.fool.com

Here is an op Ed on why the proposed Amazon/MGM deal is good for investors of Amazon inc.

 

[TheBigA]

Here is an op Ed on why the proposed Amazon/MGM deal is good for investors of Amazon inc.

Imagine though if Amazon instead bought ViacomCBS.

The downside is it will cost much more than MGM. The upside is they get a lot more stuff.

Anyway, as a $1.6 TRILLION company, Amazon can afford it.

 

[Y2kTheNewOldies]

Amazon Said To Be Near Deal To Buy MGM For $9 Billion – Report

Amazon is said to be near to clinching a deal to buy MGM for close to $9 billion following a spate of reports last week that the two sides were seriously talking about a combination. An agreement c…

deadline.com

Here is an update on the Amazon Studios/ MGM deal.

Amazon is said to be near to clinching a deal to buy MGM for close to $9 billion following a spate of reports last week that the two sides were seriously talking about a combination.

An agreement could be announced as early as this week, the Wall Street Journal reported Monday, if talks don’t break down. CNBC said it could come as early as Tuesday.

MGM was valued around $5.5 billion including debt last last year. It trades on the OTC market and its stock price has soared in recent days, from about $105 a share in mid-May, before talks were reported, to $140 a share this morning.
The studio is owned by a group of investors led by Anchorage Capital many of whom have held their stakes since MGM emerged from bankruptcy in 2012. It been the subject of perennial takeover speculation

 

[Y2kTheNewOldies]

Amazon acquires movie studio MGM for $8.5 billion

MGM is home to the James Bond, "Rocky" and "Legally Blonde" franchises, adding a library of content to Amazon's media efforts.

www.nbcnews.com

Official the MGM/Amazon Deal is at $8.5 Billion

Jeff Bezos to Step Down as Amazon CEO on July 5

Jeff Bezos will step down as Amazon CEO on July 5, exactly 27 years after founding the tech giant. AWS leader Andy Jassy will take over

www.thewrap.com

Also Jeff Bezos will leave the CEO seat on July 5th.

Amazon-MGM Deal Renews Speculation: What Happens To ‘The Apprentice’ Outtakes?

Stephen Colbert devoted a segment to his show Tuesday to the irony of ironies: Amazon, about to acquire MGM, would be gaining a studio that owned The Apprentice, and with it the long-sought holy gr…

deadline.com

In another story in relation to the Amazon/MGM Deal there is speculation on what happens to the Apprentice footage.

The would mean that Amazon founder Jeff Bezos, a frequent Trump target, would effectively control rights to potentially embarrassing and perhaps even incendiary footage.

“Holy mother of DVD extras! The private footage of a TV billionaire is going to belong to an actual billionaire,” Colbert said.

But it’s unclear, and a bit confusing, as to whether Amazon’s acquisition would give it rights to the outtakes. MGM Studios owns The Apprentice and all its materials, including all footage, according to a source. Yet in previous speculation over what the footage contains, advanced most famously by actor Tom Arnold, MGM and Mark Burnett have indicated there are other issues at work that have tied up the rights and prevent their release. Burnett’s production company is owned by MGM.

 

[TheBigA]

In another story in relation to the Amazon/MGM Deal there is speculation on what happens to the Apprentice footage.

I wonder if there's a connection between the second item (Bezos steps down) and the third item.

 

[Y2kTheNewOldies]

I wonder if there's a connection between the second item (Bezos steps down) and the third item.

Never Directly but these are events happening within Amazon at the same time though.

 

[Y2kTheNewOldies]

Is MGM Film Chief Mike De Luca Primed for Big Amazon Gig?

Michael De Luca may be the big winner from Wednesday’s blockbuster news that Amazon will purchase Metro-Goldwyn-Mayer for $8.45 billion. Though insiders caution that no decisions have been ma…

variety.com

 

[Y2kTheNewOldies]

MGM-Amazon Deal Puts Acquisition Target on Independent Studios

Amazon.com Inc.’s acquisition of Metro-Goldwyn-Mayer has turned fresh attention from investors to the fates of independent Hollywood studios that would be a catch for larger streaming players.

www.bloomberg.com

Here is an op ed where Sony and Lionsgate has been mentioned as Speculation for the next merger targets in the media.

 

[Y2kTheNewOldies]

FTC Opens Probe Of Amazon's Proposed MGM Buy: Report

The in-depth investigation, now officially opened, could take six months and disrupt Amazon's content push for its streaming services.

www.mediapost.com

Here is an Update FTC is looking in the MGM Amazon Deal.

 

[Y2kTheNewOldies]

Amazon's 'Growing Dominance' Must Be Stopped; Groups Tell FTC to Deny $8.45 Billion MGM Buy

Writers Guild of America among the 34 orgs petitioning the FTC

www.nexttv.com

The WGA is trying to stop the Amazon MGM deal.

 

[Y2kTheNewOldies]

FTC Nears Decision On Whether To Challenge Amazon-MGM Merger – Report

The FTC is set to decide over the next few weeks whether to bring an antitrust lawsuit against Amazon’s planned merger with MGM.

deadline.com

FTC in the process to respond to the MGM/Amazon deal.

 

[Y2kTheNewOldies]

WSJ News Exclusive | Amazon Moves to Force FTC Antitrust Decision on MGM Deal

Amazon has given the Federal Trade Commission a fast-approaching deadline to deliver a verdict on its proposed $6.5 billion acquisition of the MGM movie and television studio, a move that could make it difficult for the agency to challenge the deal before the tech giant completes it.

www.wsj.com

Here is more.

 

[Y2kTheNewOldies]

EU Regulators Clear Amazon's $8.45B Purchase Of MGM

LONDON (AP) — European regulators on Tuesday cleared Amazon’s purchase of Hollywood studio MGM, saying the deal doesn’t raise any competition concerns. The online shopping giant said last year that it was buying MGM in a $8.45 billion deal aimed at bulking up its video streaming service with...

tvnewscheck.com

LONDON (AP) — European regulators on Tuesday cleared Amazon’s purchase of Hollywood studio MGM, saying the deal doesn’t raise any competition concerns.

The online shopping giant said last year that it was buying MGM in a $8.45 billion deal aimed at bulking up its video streaming service with more content to watch.

The European Commission said its investigation found the deal “would not significantly reduce competition” in European markets, including for movie and TV production, wholesale supply of TV channels and retail supply of “audiovisual services.”

 

[Y2kTheNewOldies]

Amazon And MGM Close $8.5 Billion Merger

"Amazon joins MGM," Amazon said Thursday as the $8.5 billion deal announced last May closes.

deadline.com

Update the Amazon/MGM Deal is complete.

Amazon and MGM said Thursday that their $8.5 billion deal has closed. The storied, nearly century-old studio — with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards and 100 Emmy Awards — is now part of Amazon “and will complement Prime Video and Amazon Studios’ work in delivering a diverse offering of entertainment choices to customers,” Amazon said in its announcement.

Amazon Studios and streaming service Prime Video are led by Amazon’s Mike Hopkins. No news on management structure in terms of how the two studios will fit together; an Amazon spokesperson said the digital giant is planning to make offers and welcome all of MGM’s current employees