DEAL DONE: SONY BUYING MGM
A group headed by Sony Corp. Of America has agreed to buy Hollywood film studio Metro-Goldwyn-Mayer for about $2.85 billion in cash to mine MGM's lucrative library for the booming DVD market.
Ref. https://money.cnn.com/2004/09/14/news/midca.... Reut/index.htm
This buyout actually makes sense with the amount of ground that Sony has covered in it's movie sector. Now it can make the movies and also be a part of the DVD sector as well. The question is whether Disney corporation will stand to lose substantially from this sale and whether the MGM studios will continue to be a Disney subsidiary.
International Level: Envoy / Political Participation: 241 24.1%
Amazon to buy James Bond studio MGM for $8.45 billion. As competition among streaming services intensifies, Amazon scoops up the iconic movie studio behind James Bond films such as 'Goldfinger,' and other movies including 'Raging Bull,' 'Rocky.' Ref. USAToday.