MGM or Metro Goldwyn Mayer is one of the movie studios that symbolizes Hollywood’s golden era. This company has been around for 97 years but it is about to be purchased by a 26 year old company. I am talking about Amazon because this bookstore turned tech giant. With the Net Worth $314.9 Billion, everything can be bought by Amazon and that includes a century old Legendary studio. Who would have thought that an online bookstore will become a corporate Jack of all trades. There is a saying that everything has a price and $9 billion is the price Amazon is offering. That offer is quite low for a legendary film giant but its having bankruptcy issues.
If Amazon succeeds, they will own the whole MGM library which they can add to Amazon Prime. They will also have the rights to those properties and easily make remakes without any hassle. The most valuable franchise that MGM owns is James Bond. 007 is a property worth $7 billion to $10 billion. I am not sure if this negotiation will succeed but I think it has something to do with MGM refusing to release “No time to die” for any streaming platform. MGM prefers having theatrical releases for their films. This made Amazon more aggressive and they want to purchase MGM to own James Bond. Aside from Jame Bond, MGM also owns theatrical IPs of Wizard of Oz, the Hobbit” , Amityville horror and the Pink Panther.
This situation reminds me when Google and Facebook tried to purchase Twitter but both failed.MGM is very protective of James Bond because it is their biggest franchise. I can say James Bond is bigger than MGM. So that makes Amazon aggressive to try because James Bond has always been a cash cow. It can make any unknown actor into a huge and mainstream star.