buy MGM for $8.45 billion.The deal follows more than a week of news reports that Amazon was on the verge of completing an acquisition of MGM.
The reported price tag was $9 billion. Rumors had been swirling since December that MGM was exploring a sale with an asking price of a reported $5.5 billion, with the 97-year-old studio generally assumed to be pinning its sale hopes on the value of its legacy library that includes the James Bond and Rocky franchises.As one of Hollywood’s oldest studios, MGM holds one of the largest film archives in the industry.
Along with the James Bond and “Rocky” franchises, MGM produces the TV hits “The Handmaid’s Tale” and “Vikings,” as well as reality shows “Survivor” and “The Voice.” The studio’s library.
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