Big news in the world of streaming platforms today as Amazon announces that it will acquire Metro Goldwyn Mayer (MGM) for a cool $8.45 billion.

While rumours have been rampant regarding a possible acquisition all week, we now have official confirmation from Amazon that it will become the new owner of the nearly century old production house as well as its vast library of content.

“The real financial value behind this deal is the treasure trove of IP 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,” said senior vice president of Prime Video and Amazon Studios, Mike Hopkins.

Within that treasure trove is over 4 000 films including classics like Basic Instinct, Silence of the Lambs and James Bond films. That figure is kinda small though once you see that MGM boasts over 17 000 TV shows including hits like Vikings and The Handmaid’s Tale.

“I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination,” said chairman of the MGM board of directors, Kevin Ulrich.

This is an interesting acquisition to say the least especially when one considers how great Amazon’s Original content is. With that having been said, being able to bolster that content slate with a production house that boasts 180 Academy Awards and 100 Emmy Awards is an obvious win for Amazon.

If you’re not an Amazon Prime Video subscriber this might be a good time to join the platform. While the prospect of content from MGM is great, Amazon Originals are quite frankly, excellent. The Boys, The Expanse and Picard are all well worth a watch.

[Source – Amazon]