Amazon buys James Bond studio MGM for $8.45bn

Streaming Wars intensify
When, just over two years ago, Disney took over most of 20th Century Fox, a mega consolidation intensified with millions of us lining the pockets of the film streaming services during pandemic times. 

Amazon and MGM have announced that they have entered into a definitive merger agreement under which the tech giant will acquire one of Hollywood’s most famous studios for a purchase price of $8.45bn.

The deal means Amazon’s Prime streaming service will gain access to a back catalogue of more than 4,000 films, including the James Bond franchise, and 17,000 TV shows such as The Handmaid’s Tale and Fargo.

Interestingly, the James Bond franchise is still part-owned by Barbara Broccoli (widow of the legendary Cubby Broccoli) and Michael G Wilson, the British-American screenwriter. Eon Films, their company, has complete control over every aspect of Bond Films.