Bond 25 questions: The Amazon edition Part II

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The momentum for an acquisition of Metro-Goldwyn-Mayer by Amazon seems to be accelerating. Or is it? Naturally, the blog has questions.

Have things gotten more serious?

The Wall Street Journal, in a May 24 story, says MGM’s board was briefed on Sunday about negotiations. The financial newspaper also said a deal could occur as early as this week.

On the other hand, the Journal also said there are “no guarantees” the talks will yield a deal. That sounds like talks are indeed serious but not locked down yet.

If Amazon buys MGM, how might it affect James Bond?

Amazon is a financially successful company. That may mean more stability at MGM, Bond’s home studio. MGM bought United Artists (Bond’s original studio) 40 years ago and it has been one bit of drama after. That included a 2010 bankruptcy.

The Journal story made it sound like the basic Bond dynamic won’t change. MGM and Danjaq/Eon (the Broccoli-Wilson family) . MGM and Danjaq/Eon share the franchise but Danjaq/Eon controls the direction.

Of course, never underestimate the power of the purse. Danjaq/Eon relies on MGM to finance Bond films. Amazon buying MGM would mean a new set of executives exercising that power.

Should I worry about this?

You should avoid worrying about things you can’t control. Amazon is a streaming power and is on the lookout for “content” it can control directly. Netflix is doing the same thing with its original movies and TV shows. AT&T decided it wasn’t cut out to be a media power and has agreed to combine WarnerMedia with Discovery.

In other words, it’s like what was once said about Willard Whyte. People are playing monopoly with real buildings — or studios or television channels or whatever.

Anything else we should expect?

Expect a lot more jokes about how Amazon CEO Jeff Bezos looks like a James Bond villain. YouTuber Calvin Dyson did so in a May 19 video. The Gizmodo website, in summarizing the Journal story, went for the gag in the headline. (“Jeff Bezos, a Real-Life Bond Villain, May Own James Bond Very Soon”)

Amazon near deal to acquire MGM, WSJ says

Amazon is near an agreement to acquire Metro-Goldwyn-Mayer, James Bond’s home studio, for $9 billion, The Wall Street Journal reported today.

An accord may occur as early as this week barring last-minute complications, the financial newspaper said. MGM’s board was briefed on negotiations on Sunday, the Journal said, citing a “person close to the situation.”

There are “no guarantees” an agreement will be reached, the paper said.

MGM last week reported first-quarter financial results. During an investor call, Chief Financial Officer Kenneth Kay called reports about negotiations “speculation in the media.” Variety reported May 17 that Amazon was in talks to acquire MGM for about $9 billion.

The new report by the Journal makes it sound as if the studio’s relationship with the Bond franchise would remain the same. An excerpt:

MGM shares the James Bond franchise with a holding company owned by the Wilson/Broccoli family, who co-own the copyright to existing Bond movies and control the future of the franchise. The next James Bond movie, “No Time to Die,” was repeatedly delayed due to Covid-19 and is now scheduled for release in October.

No Time to Die has been delayed five times, with three of those occasions stemming from COVID-19. The first two delays took place because of the replacement of director Danny Boyle by Cary Fukunaga. The movie’s original release date was fall 2019.

At $9 billion, an MGM acquisition would be the second-largest for Amazon behind its $13.7 billion purchase of Whole Foods, according to the Journal.

Amazon is a major player in streaming. MGM’s library of films and TV shows would be a source of in-house programming. Much of that library is from United Artists, Bond’s original studio, which MGM bought in 1981.

MGM’s library does not include classic movies and TV shows originally made by MGM before the mid-1980s. Such movies as The Wizard of Oz, Gone With the Wind, Singin’ in the Rain, and Mutiny on the Bounty are part of the Warner Bros. library.

UPDATE (8:45 p.m. New York time): Bloomberg came out with a story matching the Journal reporting. Bloomberg’s story says a deal could be announced on Tuesday. It has the usual caveats, i.e. things could change, etc. The story is behind a paywall; the site forced me off the story before I could finish it.