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MGM's Extensive Film and TV Catalogue Draws in Amazon Studios for $8.5B Acquisition
MGM, a Hollywood staple for over a century, has been a significant player in the entertainment industry with its extensive film and TV catalogue. In March 2022, Amazon made a move to acquire the storied Hollywood studio for $8.5 billion, and since then, Amazon Studios has been sifting through MGM's vast library of titles, identifying a dozen initial titles for film and TV development.
One of these titles is the upcoming TV series "The Boys," based on the popular comic book series by Garth Ennis and Darick Robertson. The series is set in the near future and follows a group of former superheroes who have to rebuild their lives after being forced out of the public eye. Amazon Studios has identified "The Boys" and eleven other titles as potential films and TV shows, and they are currently in development on all of them.
MGM's extensive film and TV catalogue has been a significant draw for Amazon Studios, and the studio is thrilled to work with the iconic Hollywood studio. "MGM has a rich history and a wide range of iconic films and TV shows that we know Amazon Studios will love to develop," said Sharon Waxman, Amazon Studios' president.
In addition to "The Boys," Amazon Studios is currently in development on "The Dark Tower" and "The Wheel of Time." They are also developing "The Girl with the Dragon Tattoo" and "The Catcher in the Rye" as TV series.
MGM's acquisition by Amazon Studios is a big win for both companies, and the studio is excited to work with the Amazon team. "We are thrilled that Amazon has chosen MGM as their new home," said Gary Barber, MGM's chairman and CEO.
MGM's extensive film and TV catalogue is not the only thing that attracted Amazon Studios to the Hollywood studio. MGM also has a strong presence in the international market, making them a valuable asset for Amazon Studios as they continue to expand their global reach.
The acquisition of MGM by Amazon Studios is a significant move that has the potential to shape the future of the entertainment industry. Amazon Studios has a strong track record of producing award-winning content, and with the addition of MGM's extensive library of titles, the studio is poised to continue this trend. It will be interesting to see what new projects Amazon Studios and MGM will develop in the coming years and how they will impact the entertainment industry as a whole.