Amazon announces the purchase of the studio Behind the James Bond Franchise, MGM for $8.45 Billion
Amazon and MGM earlier today announced that an agreement, that will see Amazon acquire the studio and rights to all its works, has been reached between the two companies.
Founded in 1924, MGM has gone from being just a movie-making studio to a giant entertainment company with a rich catalog of films under its name. Alongside the announcement of the merger, the two companies added that all the movies and TV shows owned by MGM would be even more easily accessible now that the two companies are together.
While we cannot say which company is benefitting more from the merger, there is one thing we do know for sure, Amazon Prime Video subscriptions are about to be worth every single dollar subscribers pay for it. What with the addition of over 4,000 movies and 17,000 TV shows owned by MGM, it is a good time to be a Prime Video subscriber! Furthermore, Amazon Studios would be looking to revive popular old franchises from the studio such as the incredible 007 series among other classic titles.
Speaking while announcing the deal officially to the public, Senior VP of Amazon Studios and Prime Video, Mike Hopkins, said that “The real financial value behind this deal is the treasure trove of (intellectual property) in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling.” During the announcement, Hopkins also briefly mentioned that MGM studios have over 800 global employees, all of whom will be joining the studio to Amazon.
This is not the first time Amazon would be pulling off incredibly expensive acquisitions but the $8.45 Billion deal sure puts it second on the list of Amazon’s expensive company acquisitions.
Although there is no confirmed date on when the merger deal would be approved by a regulatory body governing the whole industry, Variety quoted insiders believe the deal should be done by the end of the year (2021). One of the interesting terms and conditions of the deal is that Amazon will take responsibility for MGM’s debt while the studio will be working as a branch under the Amazon Brand.
In a statement released by MGM’s executive chairman, Kevin Ulrich, he expressed his happiness about the deal saying “I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history, and the idea born from the creation of United Artists lives on in a way the founders originally intended, driven by the talent and their vision. The opportunity to align MGM’s storied history with Amazon is an inspiring combination.”
While it is yet to be seen as to whether the next title in the Bond franchise would debut on the Amazon Prime streaming service, there is no denying that the merger can open a whole world of possibilities not only for both companies but also for fans of the various classics mentioned by Hopkins during the deal announcement. Some of the popular titles include Creed; Rocky; Tomb Raider; Robocop; Raging Bull; Poltergeist; The James Bond series; The Pink Panther; Moonstruck; Fargo (TV Show); Vikings (TV Show); The Handmaid’s Tale (TV Show); among others, all of which have generated not just huge revenue for the MGM studio and other marketing companies that own rights to them but also amassed jaw-dropping audience all over the world.
Considering Amazon studio has recently adopted an aggressive commercial fare type of production, it would be really interesting to see how MGM and Amazon handle how to run the new “film division”.
Forty years after the first movie was produced, Sam Raimi and his ‘Evil Dead’ film series are coming to HBO Max
Evil Dead Rise, a new installment and sequel to ‘Evil Dead’ – a supernatural horror trilogy created and produced by Sam Raimi is already in the works and set to debut on HBO Max!
Forty years ago, Sam Raimi introduced the world to his horror franchise world and while the other titles in the franchise have gotten theatrical releases, ‘Evil Dead Rise’ would be launching on HBO Max, a streaming platform. This, of course, is only available for the U.S. Other countries such as France, U.K. would be getting a theatrical release a few days after the streaming platform debut.
While Raimi directed and produced the original film in the franchise, “The Evil Dead(1981)” as well as the two sequels, “Evil Dead II” and “Army of Darkness” released in 1987 and 1993 respectively, he won’t be directing this new installment. However, he would be acting as an executive producer alongside Bruce Campbell, one of the franchise’s old protagonists. Another veteran of the franchise who would be contributing to the production of the new installment is Robert Tapert and it is yet to see whether or not he would feature on-screen in the movie.
This is not the first time a Studio or Streaming platform has tried to revive and reboot the franchise. A soft reboot was directed by Fede Alvarez for Sony in 2013 but it didn’t quite hit the ground running in terms of ratings and revenue generated.
Raimi’s new installment for HBO max would pick up exactly where the original trilogy left off in 1993 by moving the horror from the woods into the heart of the city. The plot of this installment would see two estranged sisters thrust into a primal survival battle due to the sudden rise of nightmarish flesh possessing demons who just won’t die.
Speaking about the new installment he is working on for HBO max, Raimi said in his statement that he was thrilled the ‘Evil Dead’ series was finally back to where it belongs saying “The company’s history as pioneers of horror speaks for itself. I’m equally excited to be working with Lee Cronin, whose gifts as a storyteller make him the ideal filmmaker to continue the enduring legacy of the franchise.”
While there might be new protagonists in this installment, one thing is certain, they would both have to step up to the task because “Evil Dead” does not have a history of being less dramatic when it comes to staging terrifying situations.
Production for “Evil Dead Rise” begins June 2021 and a release date for the movie is still unclear at the time of this writing.
“Evil Dead” is not the only horror hits that have been produced by New Line Cinema. The studio has also produced hit titles like “It and It: Chapter Two”, “The Conjuring” series, among other titles.
Speaking about the studio’s preparation to create a new installment to the original “Evil Dead” trilogy, New Line Cinema’s president and Chief Creative officer said while the studio has had a history of producing influential and successful horror films, he is very excited to see Sam Raimi, Rob and Bruce Campbell all coming back to work on a new installment to the franchise; stating that there is no better producer that can understand what “Evil Dead” means.
More news will be updated about the movie’s release date as more information is churned out.