Here is a statement from Mike Hopkins, senior VP Prime Video and Amazon Studios:
“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. It’s very exciting and provides so many opportunities for high-quality storytelling,”
Metro-Goldwyn-Mayer was founded in 1924 by Marcus Loew. The studio put into production as one of its first releases the silent epic Ben-Hur. It also produced The Wizard of Oz and 1939’s Gone With the Wind. MGM signed up a large roster of Hollywood stars like Myrna Loy, Clark Gable and Joan Crawford.
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Source material: HollywoodReporter.com