New James Bond Movie On Prime Video Tipped, Amazon MGM Deal Close
Amazon is set to announce this week that they have acquired legendary Hollywood movie studio Metro-Goldwyn-Mayer a move that could reshape the streaming industry while giving Amazon Prime Video access to movies such as James Bond.
Amazons’ negotiations — first reported last week — could still fall apart, and it’s possible that the price or timing changes.
The agreement would bring a vast library of movies and shows including the James Bond, Pink Panther, RoboCop and Rocky franchises, as well as films such as “The Silence of the Lambs.”
The move would also dent the aspirations of the Nine Network owned Stan to have access to the content.
The Wall Street Journal claims the deal would mark Amazon’s second-largest acquisition in history, behind its $13.7 billion purchase of Whole Foods in 2017, and highlight the premium that content is commanding as streaming wars force consolidation and drive bigger players to bulk up with assets that help them compete.
The privately traded MGM was valued around US$5.5 billion, including debt, last December. Its stock price has soared in recent days, from about $105 a share in mid-May, before talks were reported to US$140 a share last night.
The studio had around US$2 billion of long-term debt at the end of March.
The talks between Amazon and MGM have been on-again, off-again since the start of this year, people close to both companies said.
MGM also has a TV studio whose shows include the Hulu hit “The Handmaid’s Tale” and FX’s “Fargo.” It also owns the premium pay-TV channel Epix.
MGM shares the James Bond franchise with a holding company owned by the Wilson/Broccoli family, who co-own the copyright to existing Bond movies and control the future of the franchise.
The next James Bond movie, “No Time to Die,” was repeatedly delayed due to the Covid-19 pandemic and is now scheduled for release in October with some speculating that the movie could be made available online via Prime Video at the same time as cinemas.
Amazon has continued to invest billions of dollars in its film and TV operations as well as live sports to support its Prime membership offering. The company is currently in production on a TV series based on “Lord of the Rings,” which has a first-season budget of US$465 million.