Amazon acquires MGM studios for $8.45 billion


May 27, 2021 | By Shruthi Nair

Global e-commerce giant Amazon has announced that it has struck a deal to acquire Hollywood movie studio MGM for $8.45 billion.

The deal will give Amazon an extensive library of 4,000 films and 17,000 TV shows including James Bond, Rocky, The Handmaid’s Tale, and many others. As a result, the deal could end up beefing up its Amazon Prime streaming services and attracting more high-spenders on to the platform.

This is Amazon’s second-biggest acquisition ever following the $13.7 billion purchase of Whole Foods in 2017.

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