Established 1961 THURSDAY, MAY 27, 2021 Amazon to buy MGM studios, bolstering streaming ambitions $8.45 billion deal to give US tech giant a vast library WASHINGTON: Amazon has agreed to buy the marily focused on producing TV show program- storied MGM studios for $8.45 billion, the compa- ming,” a statement from the companies said. nies said yesterday, giving the US tech giant a vast “Amazon will help preserve MGM’s heritage and library to further its ambitions in streaming. catalog of films, and provide customers with greater The deal bolsters Amazon Prime Video, which access to these existing works. Through this acqui- competes with Netflix and others in the fast-evolv- sition, Amazon would empower MGM to continue ing market, with some 4,000 films — including the to do what they do best: great storytelling.” James Bond franchise — and 17,000 television shows. “The real financial value behind this deal is Streaming gains steam the treasure trove of IP in the deep catalog that we The tie-up marks a new twist in a fast-evolving plan to reimagine and develop together with media landscape increasingly dominated by stream- MGM’s talented team,” said Mike Hopkins, senior ing giants such as Netflix, a trend which has accel- vice president of Prime Video and Amazon Studios. erated during the coronavirus pandemic. The deal The deal comes with Amazon experiencing could increase scrutiny for Amazon, one of the Big surging growth in online retail and cloud comput- Tech firms gaining unprecedented economic power ing, while making a push into entertainment as in recent years and in the crosshairs of antitrust consumers turn to streaming media. It gives enforcers around the world. Amazon the fabled Metro Goldwyn Mayer studios, Amazon was sued this week by US capital city an iconic name in Hollywood which has been Washington for allegedly abusing its dominance of through a series of ownership changes and bank- online retail ruptcy in recent years. Last week, telecom giant AT&T said it was spin- In addition to the James Bond franchise, MGM ning off its WarnerMedia division — owner of the owns the rights to film productions including Warner Bros studios — in a combination with “Rocky”, “Legally Blonde” and “Tomb Raider”, and Discovery, creating a new entity to focus on In this file photo the Metro-Goldwyn-Mayer (MGM) headquarters is pictured in Century City, California. —AFP television shows such as “The Handmaid’s Tale” and streaming and competing with the rapidly growing “Real Housewives Of Beverly Hills”. “MGM has Disney+ and new entrants such as Apple TV+. the Sea” in 2017 became the first film from a gain box office hits in recent years, is not connected nearly a century of filmmaking history and comple- Amazon has said its Prime Video is used by some streaming service to be nominated for a best pic- to the MGM Resorts group which owns hotels and ments the work of Amazon Studios, which has pri- 175 million people worldwide. Its “Manchester by ture Oscar. MGM studios, which has struggled to casinos around the world. —AFP tion campaigns have seen their reach shrink since, Facebook adapts by design, they are trying not to be noticed by the social network, according to executives. From 2017 through the middle of this year, defenses as deception Facebook has exposed and taken down more than Shell ordered to 150 covert operations that violate its policy against campaigns go stealth coordinated inauthentic behavior, according to the cut emissions in report. “These operations have targeted public SAN FRANCISCO: Facebook said yesterday that debate across both established and emerging social Dutch climate case it has disrupted more than 150 deceptive influence media platforms, as well as everything from local blogs to major newspapers and magazines,” schemes since 2017, with Russia the biggest single THE HAGUE: A Dutch court ordered oil Gleicher said. source, as culprits strive to stay “under the radar.” giant Shell yesterday to slash its greenhouse “They were foreign and domestic, run by gov- The number of coordinated inauthentic behavior gas emissions targets in a landmark victory ernments, commercial entities, politicians, and con- (CIB) campaigns derailed at the leading social net- for climate activists. Dubbed “the People ver- spiracy and fringe political groups.” The campaigns work ramped up each year since a Russia-linked sus Shell”, the case was launched in 2019 by originated in more than 50 countries overall, with operation to sway the outcome of the 2016 US presi- the Netherlands branch of Friends of the Russia the largest single source accounting for 27 dential election put Facebook on the defensive. While Earth, and is backed by six other groups and of the deceptive networks, the report indicated. Logos of US social networks Facebook and Instagram those behind influence operations (IO) went more than 17,000 Dutch citizens. Iran was the source of 23 CIB campaigns, second on the screens of a tablet and a mobile phone. —AFP unchecked on the playing field in 2016, Facebook has “The court orders Royal Dutch Shell... to to Russia, according to the report. Meanwhile, the invested in hiring, automated systems, and industry reduce its CO2 output and those of its sup- United States was the most common target as well alliances over the ensuing years. “These efforts have tinue to try to “weaponize” moments of uncertainty pliers and buyers by the end of 2030 by a as home to nine such influence operations by fringe pressed threat actors to shift their tactics,” Facebook worldwide, amplifying division around crises such as net of 45 percent based on 2019 levels,” the political characters, conspiracy pushers, and con- head of security policy Nathaniel Gleicher said dur- the pandemic and civic protests. The US 2020 elec- court said. sulting or public relations firms. ing a briefing on the report. “They have - often with- tion campaign brought to the forefront the complex- “Royal Dutch Shell has to implement this Influence campaigns continue to “push the out success - moved away from the major platforms ity of separating bad actors behind covert influence decision at once.” The climate groups had boundaries of acceptable online behavior” and blur and increased their operational security to stay operations from unwitting people they co-opt or asked the court to impose the target, saying lines between deceit and free speech, Gleicher said. under the radar.” local folks whose interests are in synch with the that Anglo-Dutch multinational Shell should Those behind IO campaigns were expected to con- As tactics have gone more stealthy, the decep- deceptive messaging, according to Gleicher. —AFP meet emissions targets in the 2015 Paris cli- mate accords. Shell said in February it had ority. His plan for massive invest- set new targets to reduce its net carbon Ford says 40% of sales to ments in infrastructure currently British Land logs footprint compared to a 2016 baseline by 20 under discussion provides several percent by 2030, 45 percent by 2035 and incentives, including the construc- more losses on 100 percent by 2050. be electric vehicles by 2030 tion of a national network of Its previous tar- gets were 30 per- NEW YORK: Ford once again is warming. Ford’s main rival General 500,000 charging stations by 2030 and the conversion of 20 per- COVID fallout cent by 2035 and 65 ramping up investment in zero- Motors pledged in January to stop percent by 2050. emission cars and by 2030 making diesel- or gasoline-pow- cent of school busses to run off LONDON: Shell had argued expects 40 percent of its vehicle ered cars by 2035. electricity. Ford also is taking on UK real estate group British Land yes- Tesla, setting a goal of “having terday posted another large annual net loss on the that it is making volume to be comprised of fully German automaker Volkswagen serious efforts to cut electric vehicles, the company also intends to offer 70 electric about one million vehicles that are back of pandemic fallout. Losses after tax hit £1.0 capable of receiving over-the-air billion ($1.4 billion, 1.2 billion euros) in its financial gas emissions, but announced yesterday. models by 2030 and sell 26 million that there is no legal The US automaker said it will units in 10 years. system updates on the road by the year to March, during which the UK imposed multi- end of this year, exceeding Tesla’s ple virus lockdowns. basis for the case increase investment in electric vehi- and that governments are responsible for cles, components and infrastructure Tesla at the top volume by July 2022.” The performance compared with a similar loss in Among the initiatives presented the prior year, British Land added in a results state- meeting Paris targets. Friends of the Earth to more than $30 billion by 2025, Elon Musk’s Tesla remains the Netherlands, one of the groups leading the boosting the amount from the $22 dominant force in the electric car Wednesday as part of the “Ford+” ment. The firm slashed the value of its property plan to boost growth, the company portfolio by almost 11 percent to £9.1 billion, as a case, said in a statement ahead of the verdict billion target set in February. The market, with a valuation of $580 bil- that it was “unique because it is the first time company last week unveiled an all- lion compared to Ford’s $51 billion. also announced creation of Ford Pro, boom in both homeworking and online shopping a global vehicle services and distri- dented demand for offices and shops. in history that judges have been asked to electric version of its bestselling F- But with growing public interest for order a company to emit less CO2.” bution business devoted to commer- “Our performance this year clearly reflects the 150 truck in an eco-friendly rein- emissions-free vehicles, new entrants The case is one of a series around the cial and government customers.