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Amazon to acquire MGM Film Studio for $8.45 Billion

26May By AnkitaNo Comments

ACQUISITION

Amazon to acquire MGM Film Studio for $8.45 Billion

SEATTLE & BEVERLY HILLS, Calif., 26th May 2021-- Amazon (NASDAQ: AMZN) has announced that they are going to acquire MGM Holding for $8.45 billion. MGM has nearly a century of filmmaking history and complements the work of Amazon Studios, which has primarily focused on producing TV show programming. “MGM has a vast catalog with more than 4,000 films includingJames Bond, Robocop, Rocky, The Pink Panther, etc. as well as 17,000 TV shows that have collectively won more than 180 Academy Awards and 100 Emmys,” said Mike Hopkins, Senior Vice President of 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...

Netflix to roll out $3 to $7 per month plan for mobile users in India

Video streaming company Netflix will roll out a cheaper mobile-only plan in India as it looks to woo viewers amid growing competition from other players. The premium content platform also believes that growth in the Indian market is a marathon; and that it is witnessing steady progress here. After several months of testing, the company has decided to roll out a lower-priced mobile-screen plan in India to complement existing plans, Netflix said in a statement."We believe this plan, which will launch in Q3, will be an effective way to introduce a larger number of people in India to Netflix and to further expand our business in a market where Pay TV average revenue per user (ARPU) is low (below USD 5)," it added. Netflix had been testing a $3.5 monthly subscription for mobile devices...

Videos Streaming Platform Dekkho Raises USD 1.2 million Seed Funding

Videos streaming platform Dekkho has raised USD 1.2 million in a seed funding round from seven marquee angel investors. However, the company hasn’t disclosed the names of the investors. “We are looking to revolutionise the way entertainment is consumed and delivered in India and create India’s first social video network, where users are closely connected to their favourite content creators. Indian consumers are far from paying for online content. We aim to create a sustainable, three-way ecosystem for content producers, advertisers, and users through a free-to-use service.” , said co-founder Tanay Desai. Dekkho is a free over-the-top (OTT) content provider that consumes less internet bandwidth and also offers offline viewing facility. The company claims to have over 12,000 hours of p...