James Bond, Meet Jeff Bezos: Amazon Makes $8.45 Billion Deal for MGM
“It’s important that mergers and acquisitions involving monopoly firms experiencing great and exponential development are met with a larger degree of scrutiny,” Mr. Buck mentioned. Amazon’s income for the primary quarter of 2021 elevated 44 p.c to $108.5 billion, the corporate’s quickest rise in nearly 10 years.
Amazon’s leisure technique has advanced as streaming companies have proliferated. Indie movies like “Manchester by the Sea” and unconventional collection like “The Marvelous Mrs. Maisel” and “Clear” gave Amazon a foothold in Hollywood; domination would require a gentle provide of hits that enchantment to vast audiences.
Amazon’s urge for food for films grew to become ravenous through the pandemic. It paid $125 million for the rights to “Coming 2 America,” $80 million for “Borat Subsequent Moviefilm” and $200 million for “The Tomorrow Warfare,” a Chris Pratt journey that may arrive on Prime on July 2. Amazon additionally has Oscar ambitions, shopping for the rights to “Sound of Metallic,” which was nominated for finest image and different high awards at this 12 months’s ceremony and gained the Oscars for sound and modifying.
The issue: Amazon Studios has had restricted bandwidth, most of which is tied up with tv collection — together with a coming “Lord of the Rings” adaptation that’s believed to be the costliest present ever made, with a one-season price range of $465 million.
MGM managers may assist. Michael De Luca, MGM’s film chairman, has a observe report that features, at numerous firms, the “Rush Hour,” “Austin Powers” and “Fifty Shades of Gray” franchises. On the subject of making its personal hit movies, Amazon has lengthy struggled. In a single debacle from 2015, Amazon spent lavishly to convey Woody Allen into its fold and later terminated the contract, prompting lawsuits.
MGM additionally has a 17,000-episode tv library and a TV studio that makes “Vikings,” “The Handmaid’s Story,” “Fargo” and numerous “Actual Housewives” exhibits. In 2014, MGM acquired Mark Burnett’s manufacturing firm, One Three Media, which holds rights to competitors collection like “The Voice.” Mr. Burnett, a contentious determine in Hollywood as a result of he helped form Donald J. Trump’s picture with “The Apprentice” and remained near him throughout his divisive presidential time period, serves as MGM’s tv chairman.
MGM, which purchased out Mr. Burnett’s firm in 2015, owns the whole lot of “The Apprentice,” each the aired exhibits and unaired footage, which some have claimed accommodates unflattering footage of Mr. Trump.
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