Amazon buys MGM for $8.5 billion: What the deal means and extra - Times of India - LiveNews360
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Amazon buys MGM for $8.5 billion: What the deal means and extra – Times of India

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May 27, 2021
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Amazon.com Inc stated on Wednesday it’s shopping for MGM, the fabled U.S. film studio residence to the James Bond franchise, for $8.45 billion, giving it an enormous library of movies and TV exhibits and ramping up competitors with streaming rivals led by Netflix and Disney+.
Privately-held MGM, or Metro Goldwyn Mayer, was based in 1924, owns the Epix cable channel and makes well-liked TV exhibits together with “Fargo”, “Vikings” and “Shark Tank.”
The deal is designed to assist Amazon supercharge its Amazon Prime Video service by conserving prospects engaged and paying an annual subscription that additionally ensures fast supply of purchases from its on-line retailer.
“The real financial value behind this deal is the treasure trove of (intellectual property) in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling,” stated Mike Hopkins, senior vice chairman of Prime Video and Amazon Studios.
Amazon’s Prime Video faces a protracted listing of opponents together with Netflix Inc, Walt Disney Co’s Disney+ , HBO Max and Apple Inc’s Apple TV+. The firms are growing spending and increasing in worldwide markets, aiming to seize the pandemic-led shift to binge-watching exhibits on-line.
Amazon has additionally made massive bets courting followers of dwell sports activities and has picked up profitable licenses to stream video games, together with a long-term cope with the National Football League that was estimated to value about $1 billion per yr.
The proliferating streaming providers are additionally scrambling for manufacturers that they’ll develop and libraries of older exhibits and flicks. Analysts have stated it is a massive motivation for one more spherical of consolidation of media properties after a short hiatus in the course of the pandemic.
Underscoring the pattern, AT&T Inc introduced a $43-billion deal final week to spin out its WarnerMedia enterprise and mix it with Discovery Inc, probably the most formidable but within the streaming period.
“Amazon is seeking to become a more prominent player in the entertainment world, and there’s no better way to do that than by buying one of the most iconic movie studios in Hollywood,” stated Jesse Cohen, senior analyst at Investing.com. “It’s all about content as the streaming war heats up.”
The acquisition is Amazon’s second-biggest after Whole Foods Market, which it purchased for $13.7 billion in 2017.
The value represents a lofty premium relative to different offers. The value is about 37 occasions MGM’s 2021 estimated EBITDA – or virtually triple the enterprise value-to-EBITDA a number of that Discovery’s deal implied for AT&T’s content material belongings – in keeping with Reuters Breakingviews.
MGM began a proper sale course of in December, when it was estimated to be value about $5.5 billion.
The deal could be seen as a doubling down on enterprise technique that Jeff Bezos, Amazon’s CEO, articulated at a convention in 2016: “When we win a Golden Globe, it helps us sell more shoes,” he had stated, referring to Amazon’s numerous enterprise divisions.
In April, Amazon posted its fourth consecutive document quarterly revenue and boasted greater than 200 million Prime loyalty subscribers.
Amazon shares rose 0.3% in early buying and selling.
Lucrative Franchise Rights
Amazon has picked up Academy Awards through the years and slowly moved from art-house fare towards content material with wider enchantment. The MGM acquisition accelerates that transfer, giving it rights to James Bond, probably the most profitable franchises in movie historical past that is earned almost $7 billion on the field workplace globally, in keeping with MGM.
MGM additionally has an enormous library of traditional movies together with “Rocky,” “Moonstruck,” and “The Silence of the Lambs.”
The potential to mine this mental property, by making new exhibits and movies based mostly on well-liked characters, will assist Amazon draw viewers to Prime, two former Amazon executives instructed Reuters.
Still, efforts by Amazon to revenue off MGM’s library will not be straightforward, or low-cost.
In many instances, MGM’s content material is tied up in multi-year offers with tv networks, the previous Amazon executives stated. Amazon can’t air MGM’s actuality present “The Voice,” as an illustration, which contractually is within the fingers of NBC.
Bringing a brand new installment of the James Bond saga to Prime viewers could also be a very troublesome process, the sources stated. The phrases below which MGM acquired the franchise depart management within the fingers of the Broccoli household, the Bond movies’ producers.
News of the acquisition adopted shortly on the return of Jeff Blackburn, Amazon’s former senior vice chairman overseeing content material and M&A, who had left early this yr.
Incoming Amazon CEO Andy Jassy had explicit belief in Blackburn after a long time at Amazon collectively, hoping he’d shepherd an advanced merger, the sources stated.





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Tags: AmazonAmazon buys MGMJames Bond franchiseM&ATV shows
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