It’s been rumored for a while now, but the official announcement has finally broken: MGM, the studio behind the iconic James Bond franchise is putting itself up for sale. It’s not exactly cheap, however; Anyone looking to buy the company is going to be shelling out over $5 billion dollars if they want ownership of Agent 007.
MGM has been considering this for a long time now, with several years of rumors circulating that the company was interested in putting itself up for sale. At the time there were conversations with several interested parties, including Apple and Netflix, but apparently, there were disagreements on price that saw the deals fall through.
That said, the James Bond franchise is one of the biggest names in Hollywood, and with everyone trying to snap up whatever exclusive content they can, it’s not surprising that MGM is eager to get in on the action. Even ignoring the proven blockbuster power of Bond, MGM’s library contains 4,000 film titles and 17,000 hours of TV programming, including films like Gone With the Wind, The Hobbit, and shows like The Handmaid’s Tale. The studio pulled in $1.5 billion in revenue last year, and continues to crank out big franchises like James Bond and Creed.
It hasn’t always been smooth sailing for MGM though, the studio famously went bankrupt a decade ago after racking up $4 billion in debt. While things have been better since then, there is no doubt a certain security in being bought out that appeals to investors. Of course, James Bond is the real prize on the table, being one of the only global blockbuster franchises that even comes close to competing with Disney’s Marvel and Star Wars projects.
The real question now is who’s going to buy. The usual suspects are probably lining up offers even now, but $5 billion is no small sum even for big companies. It wouldn’t be surprising to see an offer from Disney, though that would give the company an even greater monopoly on the popular culture than it already has. Other possible buyers include Netflix, who have been interested in the past and are looking at investing in more expensive franchises with longer lifespans. Of course, nothing is for sure right now.
Depending on who buys the studio, audiences could see James Bond and other classic MGM films coming to various streaming services as well. With more and more companies exploring simultaneous streaming releases for big movies, it’s not crazy to imagine a world where audiences have the choice to watch the latest James Bond film in theaters or on their couch. Whatever happens, this development is certainly a story worth keeping an eye on as the bids start to roll in.
Source: The Guardian
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