Amazon Buys MGM for $8.45 billion

Amazon will buy MGM for $8.45 billion. This is not a surprise, as MGM has been for sale for quite some time, and secrets about this purchase were not well-kept. Amazon is making this $8.45 billion purchase for exactly the same reason Ted Turner purchased MGM for $1.5 billion back in 1985: the library is epic! There are 4,000 movies including “Rocky,” “The Pink Panther,” and the James Bond series, and more than 17,000 episodes of iconic television shows. Amazon spent more than $11 billion on content last year and almost $8 billion the year before, so $8.45 billion for the MGM catalog seems like a bargain.

Considering the “war on big tech,” I’m wondering about the Paramount Consent Decrees of 1948 (currently in a two-year sunset period that began in August 2020). That was the DOJ’s weapon of choice for separating movie studio and movie theater ownership back in the day. I wonder what the DOJ will think about this…

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is a business advisor and technology consultant. He helps Fortune 500 companies with digital transformation, media and marketing. Named LinkedIn's Top Voice in Technology, he is the host of the Shelly Palmer #strategyhacker livestream and co-host of Techstream with Shelly Palmer & Seth Everett. He covers tech and business for Good Day New York, writes a weekly column for Adweek, is a regular commentator on CNN and CNBC, and writes a popular daily business blog. Follow @shellypalmer or visit shellypalmer.com

Tags

Categories

PreviousChina's Latest Crypto Ban Impacting Miners and Exchanges NextEncrypting Your Crypto

Get Briefed Every Day!

Subscribe to my daily newsletter featuring current events and the top stories in technology, media, and marketing.

Subscribe