The fabled Metro Goldwyn Mayer studios is an iconic name in Hollywood which has been through a series of ownership changes and bankruptcy in recent years.
WASHINGTON: Amazon has agreed to buy the storied MGM studios for $8.45 billion, the companies said on Wednesday, giving the US tech giant a vast content library to further its ambitions in streaming.
The deal bolsters Amazon Prime Video, which competes with Netflix and others in the fast-evolving market, with some 4,000 films — including the James Bond franchise — and 17,000 television shows.
The move comes with Amazon experiencing surging growth in online retail and cloud computing, while making a push into entertainment as more consumers turn to streaming media.
It gives Amazon the fabled Metro Goldwyn Mayer studios, an iconic name in Hollywood…
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