In a deal worth $8.45 billion, Amazon has officially acquired MGM in a deal that includes the latter’s film studio and vast library of film and TV properties. So what does this mean? Amazon now has access to IP that includes over 4,000 films and 17,000 TV shows, IP that Senior Vice President of Prime Video and Amazon Studios Mike Hopkins says “we plan to reimagine and develop together with MGM’s talented team.” Think Rocky, James Bond, Candyman, and Stargate, just to name a few. In the coming year plus, projects also include Snake Eyes, Respect, House of Gucci, Tomb Raider, Legally Blonde, and more. It is expected that many films and shows from the catalogue of projects will find their way onto Amazon Prime Video as offerings to fill out the on-demand library, but what this means in terms of how future films will be released (theaters, streaming, a hybrid model) remains to be seen.