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Tag: mike hopkins

  • Amazon Now Officially Owns MGM

    Amazon Now Officially Owns MGM

    Amazon is now the official owner of MGM, closing its $8.45 billion bid to acquire the storied studio.

    Amazon announced plans to purchase MGM in May 2021, for $8.45 billion, to compliment its own Prime Video and Amazon Studios. MGM’s catalog and accolades include 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards.

    Despite some pushback, and investigation by the FTC, the deal has finally closed, nearly a year after it was started.

    “MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios. “We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”

    “We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family,” said Chris Brearton, chief operating officer of MGM. “MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”

    It remains to be seen what impact the Prohibiting Anticompetitive Mergers Act could have, should the bill become law. The proposed law would give regulators the ability to undo harmful mergers worth more than $5 billion. Of course, the fact that US and EU regulators did not aggressively object to the Amazon/MGM acquisition would seem to indicate it was not deemed “harmful.”

  • Fox’s Mike Hopkins Is Your New Hulu CEO

    Fox’s Mike Hopkins Is Your New Hulu CEO

    As expected, Hulu has just announced that Mike Hopkins will be the new CEO.

    “The sky is the limit for Hulu,” he said in an email to the Hulu team.

    Here’s a (very) brief rundown of the Hulu CEO situation. Back in January, then-CEO Jason Kilar announced the he would step down at the end of Q1. In March, Hulu tapped their SVP of Content Andy Forssell to act as interim CEO. Last week, Bloomberg reported that Hulu was close to appointing Hopkins as the new CEO – a report that has now proved accurate.

    Hopkins comes over to Hulu from FOX Networks, where he served as President, distribution. Here’s what FOX Networks has to say about him:

    “A veteran Fox executive, Mr. Hopkins has played a key role in helping Fox Networks experience tremendous growth. He was instrumental in Fox’s landmark retransmission consent and channel carriage agreements with Time Warner Cable, DISH Network, Cablevision and DirecTV, as well as the successful launches of several networks, including BTN (formerly Big Ten Network), National Geographic Channel, Nat Geo WILD, FUEL TV, FOX College Sports, and FOX Soccer Plus. He was elevated to President in July 2008 after serving as General Manager and Executive Vice President of Affiliate Sales.”

    Here’s the email than Hopkins sent out to the Hulu team in its entirety:

    Hello Hulu –

    While I have been on the Hulu board for a few years and have worked with some of you before in that capacity, I am thrilled to be joining the Hulu team as the new CEO. The official announcement will be going out shortly, but I wanted to make sure to share the news directly with you all first.

    I want to thank Andy Forssell for his incredible work and tremendous leadership. His imprint on the company is, and always will be, immeasurable.

    I am really excited about my new role. You are a remarkable team. You have built a product and brand that has earned its place among the top tier of consumer technology companies. You have built a product and service that your customers (users, content owners, and advertisers) simply love.

    People love Hulu because the product is fantastic. This is a testament to the engineering excellence and product development focus that is so much a part of the DNA here at Hulu. You continue to innovate every day. For these reasons, and so many others, I am proud to be a part of the next chapter for Hulu.

    The fact is, through all the recent uncertainty not only have you kept this business together, but you’ve continued to deliver on every key performance metric. In fact, you are delivering one of the strongest years Hulu has ever seen: We expect revenues to be close to a billion dollars this year, and Hulu Plus subscribers continue to climb.

    With the foundation you have built, the significant capital infusion of three quarters of a billion dollars, and our partners aligned and fully supportive of what we need to get it done, the sky is the limit for Hulu. I am looking forward to working with you all.

    I can’t wait to get started and meet you all in person.

    -Mike

    Image via Broadcasting Cable