Amazon announces it has agreed to purchase MGM for $8.45 billion

Amazon is announcing that it has agreed to acquire MGM’s (Metro Goldwyn Mayer) entire backlog of content dating back almost a century. It’s noted that MGM has over 4,000 films and 17,000 hours of television shows and with it, Amazon hopes to improve its current on-demand video offerings. The deal to acquire MGM is worth $8.45 billion. Amazon has heavily invested into its own Amazon Studios to create original shows and films exclusive for Prime video and this acquisition will position the platform to compete with Disney+ and Netflix on a larger scale. Amazon believes that MGM’s...

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