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<\/a><\/p>\n\u201cMGM has a vast catalog with more than 4,000 films\u201412 Angry Men, Basic Instinct, Creed, James Bond, Legally Blonde, Moonstruck, Poltergeist, Raging Bull, Robocop, Rocky, Silence of the Lambs, Stargate, Thelma & Louise, Tomb Raider, The Magnificent Seven, The Pink Panther, The Thomas Crown Affair, and many other icons\u2014as well as 17,000 TV shows\u2014including Fargo, The Handmaid\u2019s Tale, and Vikings\u2014that have collectively won more than 180 Academy Awards and 100 Emmys,\u201d said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios. \u201cThe 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\u2019s talented team. It\u2019s very exciting and provides so many opportunities for high-quality storytelling.\u201d<\/p>\n
\u201cIt has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer. To get here took immensely talented people with a true belief in one vision. On behalf of the Board, I would like to thank the MGM team who have helped us arrive at this historic day,\u201d said Kevin Ulrich, Chairman of the Board of Directors of MGM. \u201cI am very proud that MGM\u2019s 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\u2019s storied history with Amazon is an inspiring combination.\u201d<\/p>\n
Completion of this transaction is subject to regulatory approvals and other customary closing conditions.<\/p>\n
About Amazon<\/p>\n
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth\u2019s Most Customer-Centric Company, Earth\u2019s Best Employer, and Earth\u2019s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com\/about and follow @AmazonNews.<\/p>\n
About MGM<\/p>\n
MGM is a leading entertainment company focused on the production and global distribution of film and television content across all platforms. The company owns one of the world\u2019s deepest libraries of premium film and television content. For more information, visit www. MGM.com.<\/p>\n
Cautionary Statement Regarding Amazon Forward-Looking Statements<\/p>\n
Amazon\u2019s statements related to the proposed acquisition of MGM contain forward-looking statements, including statements regarding expected benefits of the acquisition. Actual results could differ materially from those projected or forecast in the forward-looking statements. Factors that could cause actual results to differ materially include the following: the conditions to the completion of the transaction may not be satisfied, or the regulatory approvals required for the transaction may not be obtained on the terms expected, on the anticipated schedule, or at all; closing of the transaction may not occur or may be delayed, either as a result of litigation related to the transaction or otherwise; Amazon may be unable to achieve the anticipated benefits of the transaction; revenues following the transaction may be lower than expected; the duration and scope of the COVID-19 pandemic, including any recurrence, may affect the results of operations; operating costs, customer loss, and business disruption (including, without limitation, difficulties in maintaining relationships with employees, partners, and commercial counterparties) may be greater than expected; Amazon may assume unexpected risks and liabilities; completing the transaction may distract Amazon\u2019s management from other important matters; and the other factors discussed in \u201cRisk Factors\u201d in Amazon\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in Amazon\u2019s other filings with the SEC, which are available at http:\/\/www.sec.gov. Amazon assumes no obligation to update the information in this press release, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.<\/p>\n","protected":false},"excerpt":{"rendered":"
Seattle, WA & Beverly Hills, CA…Amazon (NASDAQ: AMZN) and MGM today announced that they have entered into a definitive merger agreement under which Amazon will acquire MGM for a purchase price of $8.45 billion. MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing […]<\/p>\n","protected":false},"author":1,"featured_media":121339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,19,20,1],"tags":[],"class_list":["post-121338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entertainment","category-featured","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2021\/05\/Fullscreen-capture-5262021-81137-AM.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/121338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=121338"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/121338\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/121339"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=121338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=121338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=121338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}