Amazon agrees to acquire MGM for $8.45B

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Amazon said today it agreed to acquire Metro-Goldwyn-Mayer, James Bond’s home studio, for $8.45 billion.

“Amazon will help preserve MGM’s heritage and catalog of films, and provide customers with greater access to these existing works,” the tech company/e-commerce giant said in a statement.

MGM’s financial state has been in flux for decades, including a 2010 bankruptcy. Since that bankruptcy, MGM has been controlled by a group of hedge funds.

If the deal is completed — and it’s subject to regulatory approval — MGM may stabilize under Amazon ownership.

Amazon didn’t estimate how long regulatory approval will take. It’s possible such review won’t be completed by Sept. 30, when No Time to Die, the 25th James Bond film, is scheduled to be released in the U.K. and Oct. 8 in the U.S.

As things stand now, No Time to Die will be released by United Artists Releasing, a joint venture between MGM and Annapurna Pictures, in the U.S. and by Universal internationally..

For Danjaq LLC and Eon Productions, the deal means adjusting to yet another MGM ownership. The Bond franchise has been linked to the studio since MGM acquired United Artists, 007’s original studio, in 1981.