Amazon Closes MGM Deal For Astronomical Amount

Amazon has closed their MGM deal for an absolutely absurd amount of money. Both companies announced the $8.5 billion acquisition and the Internet cannot believe that the Jeff Bezos-run company paid that much for a movie studio. It's clear that Amazon wants to be a major player in the entertainment landscape moving forward. They have multiple fronts they're kicking the tires on this year. From this deal to their acquisition of Thursday Night Football. Still, $8 billion for a movie studio is going to raise some eyebrows around the industry. They're serious and with that kind of capital, they're going to be able to compete. Check out what Amazon had to say about the acquisition down below.

"The storied, nearly century-old studio—with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards—will complement Prime Video and Amazon Studios' work in delivering a diverse offering of entertainment choices to customers," they said in a statement.

"MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience," Mike Hopkins, senior vice president of Prime Video and Amazon Studios offered. "We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers."

"We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family. MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century,"  Chris Brearton, chief operating officer of MGM chimed in. "We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come."

Previous reporting indicates that Amazon's purchase of MGM would give the streamer access to 4,000 movies and 17,000 TV shows. That means the company would own the rights to multiple franchises like Rocky, Robocop, Stargate, Tomb Raider, The Pink Panther, Legally Blonde, Poltergeist, Fargo, The Handmaid's Tale, and Vikings.

Is the deal a good thing for movies? Let us know down in the comments!