MGM, which is a private company, has been seeking a buyer for several years. The Hollywood studio owns the James Bond catalog and has made several hit shows including 'The Handmaid's Tale' and 'Fargo.' It also owns premium cable network Epix and owns several popular reality TV shows, including 'Shark Tank,' 'Survivor' and 'The Real Housewives.' MGM will make Amazon's TV and film library even more robust. The company announced last week that it would bring back Jeff Blackburn, formerly a top lieutenant to Bezos, to oversee a new Global Media & Entertainment division, which consolidates its entertainment offerings under one heading, including Prime Video, Amazon Studios, its music and podcasting businesses, Amazon Games and Twitch.

'Lord of the Rings' has a season one price tag of $465 million, likely making it one of the costliest television series ever made.Īmazon has also made an aggressive push into sports content, signing a deal with the NFL in May to broadcast Thursday Night Football starting in 2022.Īmazon has a seasoned representative in Hollywood. Maisel' and 'Transparent.'Īnother closely watched project, an adaptation of 'Lord of the Rings,' is currently in production. CEO Jeff Bezos has argued that these investments reinforce Amazon's 'flywheel effect,' in that it attracts more Prime subscribers, who in turn, tend to spend more on the site.Īmazon has landed hits in film and television programming, including 'The Big Sick' and 'Manchester By The Sea,' winner of the 2017 Academy Award for best original screenplay, as well as series 'The Marvelous Mrs. It spent $11 billion on video and music content last year, up from $7.8 billion in 2019. Discovery's $43 billion deal to merge with WarnerMedia after a spinoff from AT&T, announced last week, is the latest sign of that.Īmazon has long been willing to make big investments on video content as a strategy to buoy Prime memberships, which now surpass 200 million globally. Personal Loans for 670 Credit Score or LowerĪt the same time, media juggernauts have undergone further consolidation to achieve greater scale to take on the likes of Amazon and Netflix.

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