Amazon’s entertainment strategy has evolved as streaming services have proliferated. Indie films such as “Manchester by the Sea” and unconventional series such as “The Marvelous Mrs. Massel” and “Transparent” allowed Amazon to gain a foothold in Hollywood; Domination would require a steady supply of hits that would attract a wider audience.
Crazy about amazon’s movies During the epidemic. It paid $ 125 million for ‘Coming 2 America’ rights, $ 80 million for ‘Post-Borat Moviefilm’ and $ 200 million for ‘The Tomorrow War’, a Chris Pratt adventure that will hit Prime on July 2. Amazon also has Oscar ambitions, buying the rights to “Sound of Metal”, which was nominated for Best Picture and other top awards at this year’s ceremony and won an Oscar for sound and editing.
Problem: Amazon Studios has limited bandwidth, most of which is tied up with television series – including the “Lord of the Rings” adaptation, considered the most expensive show ever, with a season budget of $ 465 million.
MGM managers can help. Michael de luca, MGM’s movie chairman, has a track record in various companies, including the “Rush Hour,” “Austin Powers” and “Fifty Shades of Gray” franchises. When it comes to making their own hits, Amazon has Struggled for a long time. In a debacle from 2015, Amazon spent much to get Woody Allen under its fold and later Contract expired, Inducing lawsuits.
MGM also has a 17,000-episode television library and a TV studio that produces “Vikings,” “The Handmaid’s Tale,” “Fargo” and various “Real Housewives” shows. In 2014, MGM acquired Mark Burnett’s production company, One Three Media, which holds the rights to competition series such as “The Voice”. Mr. Burnett, a controversial figure in Hollywood because he helped Donald J. Shape trump image With “The Apprentice” and remaining close to him during his divisive presidential term, serves as MGM’s television president.
Anchorage Capital, a New York investment firm, has been the majority owner of MGM for more than a decade. Earlier MGM was uprooted among the owners. Due to declining DVD revenue, the studio eventually filed for bankruptcy to eliminate some $ 4 billion in debt. It was valued at around $ 2 billion in 2010., According to analysts.
Anchorage chief executive and MGM president Kevin Ulrich formally put the studio on the block at the end of last year. There has been pressure from various stakeholders on Anchorage to exit the investment, with some agitators complaining that Mr. Ulrich was highly influenced by Hollywood and should have sold out years ago.