Metro-Goldwyn-Mayer (MGM): Who Are Amazon.com's New Studio?
Earlier this month there was a rumour swirling around the media regarding the merger agreement of Amazon.com and MGM. The speculation became true finally and on Wednesday Amazon has announced that they are buying MGM with a net worth of $8.45 billion. It is the second-largest acquisition transaction of Amazon.com. According to the analyst, this well-planned agreement will bring a successful outcome for both parties. Amazon.com will get the benefit of a huge catalogue collection while MGM will get famous studio streaming facilities.
All about Metro-Goldwyn-Mayer
MGM is an abbreviation of Metro-Goldwyn-Mayer is a leading American entertainment studio. It is the last studio of the silent film era and also considered as one of the best motion picture studios in Hollywood. The studio plays the role of global distributor of film and TV content. MGM was founded on April 17, 1924, by the two entrepreneurs and the headquarter is located in Beverly Hills, California, USA. It has a giant catalogue of 4000 films. It significantly has the James Bond franchise on its name and also has produced movies like the Rocky and Creed franchise. Over the years they have produced more than1700 TV shows. The most famous show they have produced is the Handmade Tail.
During Its initial age, Metro-Goldwyn-Mayer used to produce five to six films per year and distributed them through different channels. Their growth was steady until 1990. After the 90's they first experienced a rough phase in business due to a load of debts. Later in 2010, it was labelled as bankrupt by the financial market. Since then the company is trying to reorganize its structure and it has transferred $4 billion to its main ownership.
It is said by the analyst that this new alignment with Amazon.com will bring back the talented team of Metro-Goldwyn-Mayer into the market race. Together they will experience the continuity of growth in the field of storytelling.