Amazon buys MGM, the studio behind James Bond

Amazon is buying MGM Studios for $8.45 billion, the companies announced Wednesday. MGM is, together with Eon productions, co-owner of the James Bond franchise.

The deal, which is valued at $8.45 billion, gives Amazon an extensive library of film and TV shows that it can use to fill out its Prime Video content coffers. MGM has a catalog with more than 4,000 films and 17,000 TV shows, according to Mike Hopkins, who heads Prime Video and Amazon Studios. MGM also houses franchises including Rocky, The Handmaid's Tale, RoboCop, Legally Blonde and the Epix TV network.

The 97-year-old film and television studio Metro-Goldwyn-Mayer owns part of the James Bond franchise, one of Hollywood's most famous film series. The James Bond brand, which is also controlled by Eon Productions (Barbara Broccoli and Michael G. Wilson), is one of the most successful movie franchises, spanning 60 years. The films and the character also represent a lifestyle that is known in all parts of the globe and reaches many areas of popular culture.

Having the James Bond series as part of Amazon's Prime Video would be a strong offering for Amazon in the competitive streaming market.

The deal is Amazon’s second-largest acquisition, after it paid $13.7 billion for Whole Foods in 2017.

Amazon has said that the MGM deal "is subject to regulatory approvals and other customary closing conditions."

The latest Bond film No Time to Die is set to open this October after being delayed multiple times because of the Covid-19 pandemic. It is not known if the MGM deal changes anything in the premiere date or streaming possibilities of the film.

The acquisition of MGM by Amazon opens up possibilities for spin-off series and new Bond films, although Amazon doesn't get full control of Bond: the terms under which MGM acquired the franchise leave control in the hands of the Broccoli family, the Bond films’ producers.