Retail behemoth, streaming giant, and budding game maker Amazon has agreed to acquire American media production company MGM for $8.45 billion.
MGM owns and co-owns the rights to notable franchises including James Bond and Tomb Raider, the latter of which is perhaps one of the most recognized game-to-movie franchises in the world.
Other notable MGM productions include movies such as Robocop, Rocky, and Silence of the Lambs, and television shows like Fargo, The Handmaid’s Tale, and Vikings.
The company has also facilitated video game adaptations of some of its key properties, and recently licensed out the rights to the James Bond series to Hitman developer IO Interactive.
Amazon, which is working to strengthen and expand its own internal game division in a bid to break into the industry, said it purchased MGM to access its “treasure trove of IP.”
“The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team,” commented Amazon Studios SVP Mike Hopkins in a press release. “It’s very exciting and provides so many opportunities for high-quality storytelling.”