mgm

Amazon Makes A Deal To Buy MGM For Nearly $8.5 Billion

Amazon has made a deal to purchase MGM for $8.5 billion.; Credit: /SOPA Images/LightRocket via Getty Images

Mandalit del Barco and Anastasia Tsioulcas | NPR

Updated May 26, 2021 at 10:12 AM ET

Editor's note: Amazon is among NPR's financial supporters.

Amazon has made a deal to buy Hollywood studio MGM for almost $8.5 billion. It's the second-largest acquisition for the company after purchasing Whole Foods.

The tech company already runs a film studio, Prime Video streaming service, and video game streaming site Twitch. But the MGM deal is its biggest move into entertainment. Amazon will get the rights to the Golden Age studio's film and television library.

The announcement was made Wednesday morning by the two companies. In a statement, Amazon's senior vice president of Prime Video and Amazon Studios, Mike Hopkins, emphasized the intellectual property value of MGM's vast holdings, which go back to the 1920s. "The real financial value behind this deal," Hopkins said, "is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM's talented team."

With its mascot lion roaring logo, MGM made such movie classics as Singin' In the Rain and 2001: A Space Odyssey. MGM also owns the EPIX cable channel and runs a TV studio that produced The Handmaid's Tale and Fargo.

MGM also splits the highly lucrative James Bond movie franchise with a family that holds creative control of the 007 movies. According to Variety, as of 2020 the 24 films released so far in the series have generated $16.3 billion in global ticket sales, adjusted for inflation.

In all, MGM's catalog includes more than 4,000 films — including such pop-culture staples as Moonstruck, Legally Blonde, Rocky, The Pink Panther, The Silence of the Lambs and Poltergeist — and 17,000 television shows. Access to those movies and shows will certainly augment Amazon's Prime Video offerings, particularly at a time when other studios and networks have created their own platforms to reach consumers, such as HBO Max, Paramount+ and Disney+. As of last month, there were more than 200 million Amazon Prime account holders worldwide, Amazon founder Jeff Bezos told Variety.

The Wall Street Journal reported on Wednesday that the deal for $8.45 billion includes taking on MGM's current debts. The deal has not yet closed, an Amazon spokesperson noted to NPR, and is subject to regulatory approvals. The company is already facing antitrust inquiries in both the U.S. and Europe.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

This content is from Southern California Public Radio. View the original story at SCPR.org.




mgm

Amazon is buying MGM, the studio behind James Bond, for €6.9 billion

Amazon is buying MGM, the studio behind James Bond, for €6.9 billion




mgm

1939 MGM cartoon by Hugh Harman

Peace on Earth (archive) - "After mankind is wiped out in the final war, forest animals re-build for a better tomorrow."






mgm

Report: MGM pitched leagues on massive Vegas quarantine zone




mgm

Glazer Capital Mgmt., LP v. Magistri

(United States Ninth Circuit) - Dismissal of a class action complaint alleging false statements contained in a merger agreement with a third party company is affirmed where the plaintiff has not pled facts that would either directly or indirectly give rise to a strong inference of scienter on the part of those officers responsible for making the false statements contained in the merger agreement.




mgm

32BJ N. Pension Fund. v. Nutrition Mgmt. Servs.

(United States Second Circuit) - Vacated and remanded. Finding NMSC did not agree to be bound to the trust agreement until it executed an amendment to the collective bargaining agreement in 2014, the delinquency policy’s interest rate did not apply.




mgm

mgm: Estimating Time-Varying Mixed Graphical Models in High-Dimensional Data

We present the R package mgm for the estimation of k-order mixed graphical models (MGMs) and mixed vector autoregressive (mVAR) models in high-dimensional data. These are a useful extensions of graphical models for only one variable type, since data sets consisting of mixed types of variables (continuous, count, categorical) are ubiquitous. In addition, we allow to relax the stationarity assumption of both models by introducing time-varying versions of MGMs and mVAR models based on a kernel weighting approach. Time-varying models offer a rich description of temporally evolving systems and allow to identify external influences on the model structure such as the impact of interventions. We provide the background of all implemented methods and provide fully reproducible examples that illustrate how to use the package.




mgm

Stocks making the biggest moves midday: Tesla, Uber, MGM Resorts & more

Check out the companies making headlines in midday trading on Friday.




mgm

MGM to lose more than $30M after delaying release of No Time To Die due to coronavirus outbreak

'The marketing outlay already was significant with just four weeks to go before the release, including a $4.5 million Super Bowl spot that ran in February,' THR.com reported.




mgm

MGM style: Cedric Gibbons and the art of the golden age of Hollywood / Howard Gutner

Dewey Library - PN1998.3.G534 G88 2019




mgm

MGMT2 / Williams, McWilliams

Williams, Chuck, 1959- author




mgm

A novel series of phenolic temozolomide (TMZ) esters with 4 to 5-fold increased potency, compared to TMZ, against glioma cells irrespective of MGMT expression

RSC Adv., 2020, 10,17561-17570
DOI: 10.1039/D0RA02686G, Paper
Open Access
  This article is licensed under a Creative Commons Attribution 3.0 Unported Licence.
Leroy Shervington, Oliver Ingham, Amal Shervington
The standard of care treatment for patients diagnosed with glioblastoma multiforme (GBM) is temozolomide (TMZ).
The content of this RSS Feed (c) The Royal Society of Chemistry