How Will Amazon “Reimagine” MGM’s Film Studio?

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Shortly after Amazon’s May 26 announcement that it was buying MGM in a deal valued at $8.45 billion, Amazon Studios chief Jennifer Salke and her boss Mike Hopkins held a town hall with employees fr…

Salke, who reports to Hopkins, is widely praised for her TV prowess, but Amazon Studios’ film efforts have been topsy-turvy. Since Salke arrived three years ago, the focus has shifted toward buying more commercially minded titles and tentpoles such asThe Tomorrow War

De Luca, who knew MGM was being shopped when he arrived two years ago, has been on a spending spree, stocking the company’s pantry with A-list projects like Ridley Scott’s, with Lady Gaga and Adam Driver. And the company spent well into the $70 million range to acquire, with Darren Aronofsky, Jared Leto and Jason Blum, a deal that surprised even well-pursed Netflix execs who lost the package.

James Bond, co-owned by MGM and Barbara Broccoli and Michael G. Wilson’s London-based Eon production house, no doubt is MGM’s most valuable franchise, albeit a complicated one. MGM has full distribution rights, but Eon has full control over what gets made. The 25th Bond film,, which is set to open in the fall, isn’t impacted because Amazon won’t own MGM by then.

 

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