Amazon officially announced a deal to acquire MGM for $8.45 billion, bringing the ecommerce giant a wealth of movie and TV properties. MGM, founded in 1924, complements Amazon Studios, which has primarily focused on producing TV programming, the companies said. Amazon will help “preserve MGM’s heritage and catalog of films” and provide customers with greater access to these existing works, the companies added.
Source: Amazon Buys MGM, Studio Behind James Bond, for $8.45 Billion