Amazon is reportedly in discussions to buy the Metro-Goldwyn-Mayer movie studio, a move that would cost them US$9 billion, or AU$11.5 billion.
Originally reported by Variety, according to industry sources, the tech giant is currently in negotiations over a deal. MGM is responsible for a number of significant Hollywood franchises, including James Bond, as well as series like Rocky and The Hobbit.
Back in 2018, MGM fired Gary Barber, Chief Executive, over his talks with Apple about selling the studio.
The sale would significantly bolster the Amazon Prime Video library through both their film titles and their TV titles, which includes shows like The handmaid’s Tale, Teen Wolf, Fame, and Vikings.
Amazon is investing significantly into their media portfolio, and in 2020 spent US$11 billion on entertainment – including films, music and TV – for Prime.
In Australia alone, the company announced that they were investing $150 million in local entertainment. It is clear that Amazon is eager to consolidate its position in the entertainment landscape.
Variety reports that the deal is being led by Mike Hopkins, senior VP at Amazon Studios and Prime Video, with MGM board chairman Kevin Ulrich.
MGM has frequently been a target for takeover by a range of companies, but a deal has never been closed, making it one of the final major independent studios left in Hollywood.
The Avid Collective MD reveals his life pre-adland. As exciting as it is, it's not international playboy spy & Lothario.
SenateSHJ has launched a new digital, data and insights capability designed to help clients tackle the growing complexity of communication challenges. SenateSHJ Digital, Data and Insights (DDI) will combine the firm’s existing Digital and Insights functions to create a Trans-Tasman capability focused on digital communication, and the generation and use of data to improve communication. […]
Creative technology platform Bonzai has announced the launch of BrandStory – a new premium mobile ad format. BrandStory offers triple the ad space and 2.8 times greater time in view than single scroll ad formats, addressing the surging demand from brands worldwide for more real estate to drive real results by seamlessly intertwining awareness, exploration […]
B&T went through the looking glass this morning, with editor-in-chief David Hovenden (above) appearing on Channel 7’s The Morning Show to get the general public involved in our search for Australia’s Greatest Ad. Hovenden chatted with Kylie Gillies and stand-in host Matt Doran about what makes a great ad and showcasing some of our favourites […]
Two Australian-born technology providers have joined forces to bring more power and choice to marketers in Australia and New Zealand with mobile messaging that is more local, cost-effective, and integrated. It’s a partnership that sees two Australian software companies come together to deliver a world-class mobile-first solution for marketers building data-driven, personalised, omnichannel campaigns. While […]
Zitcha and Broadsign have teamed up to integrate the Broadsign out-of-home (OOH) advertising platform with Zitcha’s retail media platform. The collaboration empowers retailers to maximise and monetise in-store digital display networks and enables advertising partners to easily view and book available in-store inventory and review campaign performance alongside the retailer’s other media channels. With the […]
Today, 7-Eleven has announced a one-of-a-kind collaboration with the popular Sydney-based anti-resort wear label Double Rainbouu. Dropping tomorrow, December 1, just in time for summer, this limited-edition capsule will infuse the fashion brand’s rebellious spirit with a distinctly iconic 7-Eleven flavour. The unisex collection features five must-have styles comprising two signature Hawaiian shirts, a peaked cap, a bucket hat […]