Value Of MGM Film And TV Operation Revealed In Amazon Filing

deadline.com:

Amazon has assigned a value of $3.4 billion to MGM’s film and TV operation, which it acquired along with the rest of the fabled Hollywood company in a deal that closed last March.The number appeared in an SEC filing this morning related to the company’s first quarter results. (Companies typically issue an earnings release with select numbers and then follow up later with a more thorough, official accounting for the SEC.) Amazon’s lackluster quarterly report yesterday, which included an unexpected loss and a soft outlook for the current quarter, has rattled investors and sent the tech giant’s stock down 12% so far today.Amazon notes in the filing that the MGM deal closed March 17.

It spent $6.1 billion in cash and assumed $2.5 billion in debt, repaying the debt immediately after the deal close.Key library titles and franchises in the MGM and United Artists stable include film and TV franchises like James Bond (though the rights are limited), Stargate, Creed, Legally Blonde, Shark Tank and The Handmaid’s Tale.New and returning series on broadcast, cable and streamingSeries that made it or didn’t make it in 2020-21Broadcast networks’ fall lineups and schedules