Amazon announced on Wednesday that it had reached a deal to acquire the media and entertainment giant Metro-Goldwyn-Mayer Studios (MGM) for $8.45 billion.
In a joint press release, the two publicly traded corporations—MGM’s Wall Street market capitalization is $21 billion and Amazon’s is $1.65 trillion—said they entered “a definitive merger agreement” and emphasized how MGM’s “nearly a century of filmmaking history” is complimentary to “the work of Amazon Studios, which has primarily focused on producing TV show programming.”
The press statement also said that Amazon would “help preserve MGM’s heritage and catalog of films” and “empower MGM to continue to do what they do best: great storytelling.”
MGM is one of the world’s oldest film studios—itself the product of entertainment industry consolidation in the 1920s—and has a catalog of 4,000 films and 17,000 TV shows. Considered among the most valuable in its collection are the James Bond series of movies, Twelve Angry Men (1957), Rocky (1977), Raging Bull (1980), Moonstruck (1987), Thelma & Louise (1991) and Silence of the Lambs (1991). MGM had previously relinquished ownership of Gone with The Wind (1939), The Wizard of Oz (1939) , Singin’ in the Rain (1952) and 2001: A Space Odyssey (1968) among others in a series of deals involving Sony and Warner Brothers.
Senior Vice President of Prime Video and Amazon Studios Mike Hopkins bluntly explained the interests motivating the deal, “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.” IP is corporate-speak for intellectual property.
Kevin Ulrich, Chairman of the Board of Directors of MGM, said, “The opportunity to align MGM’s storied history with Amazon is an inspiring combination.”
Amazon’s CEO Jeff Bezos said during the company’s annual shareholder meeting on Wednesday that he was “really excited about MGM.” Also using business lingo in reference to the purchase of a century of Hollywood filmmaking, Bezos went on, “The acquisitions thesis here is really very simple: MGM has a vast, deep catalog of much beloved intellectual property and with the talented people at MGM and the talented people at Amazon Studios, we can reimagine and develop that IP for the 21st century.”
I didn't write about MGM's history but probably should have. Who owns it?
The reason I ask is DISNEY+ is a DISNEY outlet and they stream THE WIZARD OF OZ. That film was made by MGM. Did the latest purchase give AMAZON all of the MGM catalogue?
Per C.I., the answer is no. Ted Turner owned MGM (after purchasing it in 1986) and then he sold it but kept the catalogue of all films prior to 1986. Ted merged with AOL-TIME-WARNER. Ted and WARNER control those films (have ownership of) to this day.
So the legendary MGM is not part of the deal. That means the films everyone loves are not part of the deal -- films like EASTER PARADE, CAT ON A HOT TIN ROOF, THE POSTMAN ALWAYS RINGS TWICE, SUMMER STOCK, THE PIRATE, A DAY AT THE RACES, THE PHILADELPHIA STORY, CABIN IN THE SKY, TOPPER, THE WOMEN, PAT AND MIKE, BUTTERFIELD 8, A WOMAN'S FACE, FOR ME AND MY GAL, AN AMERICAN IN PARIS, GIRL CRAZY, FREAKS, VICTOR/VICTORIA, ANCHORS AWAY, ON THE TOWN, THE HARVEY GIRLS, MUTINY ON THE BOUNTY, THE LONG LONG TRAILER, THE NIGHT OF THE IGUANA, SOME CAME RUNNING, NORTH BY NORTHWEST, LOVE FINDS ANDY HARDY, WIFE V. SECRETARY, THE ASPHALT JUNGLE, THE CATERED AFFAIR, NATIONAL VELVET, JAILHOUSE ROCK, ANNA CHRISTIE, THE IRON PETTICOAT, BAD DAY AT BLACK ROCK, GRAND HOTEL FATHER OF THE BRIDE, TORCH SONG, RED DUST, THE THIN MAN, DANGEROUS WHEN WET, THE TEAHOUSE OF THE AUGUST MOON, BABES IN ARMS, NINOTCHKA, THE SINGING NUN, STRANGE CARGO, WOMAN OF THE YEAR, PRESENTING LILY MARS, LASSIE COME HOME, GASLIGHT, THE CLOCK, PENELOPE, THE MERRY WIDOW, JULIUS CAESER, BRIGADOON, THE COBWEB, GUYS AND DOLLS, DESIGNING WOMEN, GIGI, THE FEARLESS VAMPIRE KILLERS, THE DIRTY DOZEN, THE COMEDIANS, PLEASE DON'T EAT THE DASIES, BELLS ARE RINGING, THE V.I.P.S, DOCTOR ZHIVAGO, THE ALPHABET MURDERS, etc. Big loss.
See Mike's "Jimmy Dore, James Bond " for a question I asked last time.
Going out with C.I.'s "Iraq snapshot:"
Thursday, May 27, 2021. An arrest takes place in Iraq though the western media and the Iraqi press are in conflict over what the arrest was for. The militias surround the prime minister's compound and you may be saying, "Huh? This wasn't on THE NEWSHOUR or CBS EVENING NEWS or . . ." No, it wasn't.
One day after protests across Iraq against the wave of terrorism gripping the country since activists with The October Movement started getting assassinated, someone is finally arrested for terrorism.
REUTERS explains, "Iraqi security forces on Wednesday arrested militia commander Qasim Muslih, the military said, in a move security sources said was linked to attacks on a base that hosts U.S. forces."
He is thought to have carried out attacks on the activists but, to read the western coverage, that is apparently not part of the charges currently against him. Elsewhere? It's a different story. Iraq's NRT reports:
The arrest warrant was issued on May 21st.
ALJAZEERA notes, "A copy of the arrest warrant issued for Muslih that circulated on social media and was verified by the security sources said he was arrested under the anti-terrorism law, but did not have further information."
ALJAZEERA's Shelly Kittleson offers this thread:
Conflicting reports as to whether he has since been released. Iraqi Commander-in-Chief spokesman says he "will remain in the custody of the Joint Operations Command until the end of the investigation"
Not everyone is happy over the arrests. Syed WaQas Ali Tweeted:
And the PMF has issued demands:
That was online. Offline? AP reports:
after the arrest, forces affiliated with the PMF, which maintains
offices inside the heavily fortified Green Zone, were deployed
surrounding Prime Minister Mustafa al-Kadhimi's headquarters.
Tensions reached fever pitch when Iraqi security forces and the elite Counter-Terrorism Service were deployed to protect the government and diplomatic missions, sparking fears of violence. Some armed PMF factions gathered around the Green Zone's entrance gates.
The presence of the PMF inside the seat of Iraq's government was considered by some senior Iraqi government officials as a way to pressure al-Kadhimi to release Musleh.
The prime minister described the show of force as “a serious violation of the Iraqi constitution and the laws in force," adding in a statement “we have directed an immediate investigation into these movements.”
Antonio Guterres is the Secretary General of the United Nations. Jeanine Hennis-Plasschaert is his Special Envoy to Iraq. She Tweeted the following:
Any arrest case should run its course, as goes for any Iraqi. And surely, nobody should resort to a show of force to get their way. Such behaviour weakens the Iraqi state and further erodes public trust. State institutions must be respected at all times. Nobody is above the law.
In Karbala some took to the streets to protest the arrest.
A much larger presence turned out in Baghdad on Tuesday to protest the killings of protesters, the government's corruption and much more.
The following sites updated: