Amazon continues not to blink when it comes to huge sums of money. Having already shelled out close to $1 billion for their upcoming Lord Of The Rings series, and paid $200 million to Paramount for the rights to upcoming sci-fi blockbuster The Tomorrow War, the company isn’t close to stopping.
They’re reportedly in talks to acquire MGM and the entire James Bond library for around $9 billion.
The deal has been in the works for weeks, but talks intensified following another deal earlier this week – Discovery’s deal to acquire WarnerMedia, which potentially gives them a package of original content, reality shows and, most importantly, live sports that neither Amazon or Netflix can currently match.
So Amazon have hit back by bringing out the chequebook. MGM have been a popular takeover target in the past year, boasting a stacked library that includes a dozen Best Picture winners as well as the Rocky and Creed movies, and TV shows such as Fargo, Survivor and The Handmaid’s Tale, plus the cable network Epix.
Since the latest 007 film No Time To Die, originally supposed to arrive in April 2020, has been frequently delayed due to the pandemic, MGM did reportedly entertain offers from streaming companies for the rights to that film – which would have been a huge deal – but couldn’t reach a deal. The film is currently due to hit cinemas in October.
If, or more likely when, Amazon acquires MGM, the deal will give them a number of film franchises and TV shows to draw in more subscribers with. Much like how Disney acquiring Fox allowed Disney+ to appeal to a wider demographic and grow quickly from inception, Amazon is hoping for similar growth.
These kinds of deals will only continue to happen as the streaming wars involve more and more companies and become a fight for survival. We’ll wait for more news regarding this deal, and eventually, the next one.