Amazon make deal to buy MGM for about $8.5 Billion


Amazon has made a deal to buy Hollywood studio MGM for almost $8.5 billion dollars. It’s the second largest acquisition for the company after purchasing Whole Foods.

The tech company already runs a film studio, Prime Video streaming service, and video game streaming site Twitch. But the MGM deal is its biggest move into entertainment. Amazon will get the rights to the Golden Age studio’s film and television library.

[Amazon slammed five new racial, gender bias lawsuits]

With its mascot lion roaring logo, MGM made such movie classics as Singin’ In the Rain, and 2001: A Space Odyssey. MGM also owns the EPIX cable channel and runs a TV studio that produced The Handmaid’s Tale and Fargo.

MGM also shares the James Bond movie franchise with a family that controls the 007 movies.

Source: NPR