Amazon buys MGM for $8.45 billion
Amazon has reached a deal to acquire the film and TV company MGM for $8.45 billion, the companies announced today. It’s a significant acquisition for the e-commerce giant, and it means it will own a library of content that’s reported to consist of around 4,000 films and 17,000 hours of TV. The acquisition is likely to help Amazon attract even more big-spending Prime subscribers as its Prime Video service competes with the likes of Netflix and Disney Plus.
MGM is perhaps most notable for being the Hollywood studio behind the James Bond and Rocky franchises, but its library runs the gamut from classic films like 12 Angry Men to modern TV shows like The Handmaid’s Tale and Vikings. MGM’s library also includes unscripted TV shows like The…