MGM

Rocky and James Bond are two of many characters which might be hosted on Amazon’s streaming services as a result of an expected deal with Hollywood studio MGM, which is expected to be finalised imminently.

The acquisition, which is expected to cost Amazon almost $9 billion (€7.4 billion), could be announced this week, people “familiar with the matter” told The Wall Street Journal.

It would mark Amazon’s second-largest acquisition, after its purchase of Whole Foods in 2017, and represents a drive to broaden Amazon’s streaming content offerings.

As Amazon continues to compete with Netflix, Disney, and other major streaming companies, the studio’s portfolio would present an opportunity for the e-Commerce giant to attract new customers and retain old ones.

MGM owns a number of popular movie and TV franchises, including Rocky, Legally Blonde, The Pink Panther and Stargate. It also holds a part-ownership of the recent James Bond films starring Daniel Craig.

MGM’s ubiquitous logo

It comes as the media-world has consolidated, with a number of high profile acquisitions, such as Disney’s 2019 purchase of 21st Century Fox changing the streaming landscape.

Amazon has also fallen behind key competitor Netflix in terms of its homegrown content, though the Company does seem to be addressing this, with a high-budget Lord of the Rings TV show in the works.

Also announced in recent weeks, AT&T and Discovery are approaching a deal to create a $150 billion (€124 billion) streaming platform which would add further competition for existing streaming players.

Saint James Hospital’s innovative approach to medicine leading to a longer, happier life

June 10, 2024
by Ramona Depares

The Longevity Clinic at Saint James Hospital is focused on medical interventions that increase healthspan and lifespan

The business side of Maltese theatre: What’s it like to finance show-business on the island?

June 9, 2024
by Andre Delicata

BusinessNow.mt speaks to three theatre-impresarios

In pictures: These Maltese houses just won architectural awards

April 28, 2024
by Robert Fenech

The BIG SEE Architecture Awards are given to projects from South-East Europe