MGM Studios bought for $8.45bn in Amazon’s biggest deal
Amid a seemingly insatiable demand for streaming content, MGM adds a back catalogue of 25,000 hours for Amazon programming
26 May 2021 - 17:43
Los Angeles/Seattle — Amazon has agreed to buy the Metro-Goldwyn-Mayer (MGM) movie company for $8.45bn, a bet that a nearly century-old Hollywood icon can feed an insatiable demand for streaming content.
The proliferation of streaming services, including newer arrivals such as HBO Max and Disney+, has put pressure on Amazon to acquire more programming. CEO Jeff Bezos has made no secret of his desire for movie moguldom, and MGM’s vast backlog provides an abundance of streaming material, not to mention an opportunity to mine the iconic James Bond and Rocky franchises for new films and TV shows...
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