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Amazon set to acquire MGM for $8.45 billion

E-commerce giant Amazon is set to acquire renowned Hollywood studio MGM for $8.45 billion.
by Sathvik SV | May 27, 2021 10:31 IST
Amazon set to acquire MGM for $8.45 billion

Amazon is set to add another worthy portfolio to its media streaming service, Prime Video. They are close to acquiring renowned Hollywood studio Metro-Goldwyn-Mayer - MGM for $8.45 billion.

 
This will be the second largest acquisition of Amazon in the company’s history after it acquired Whole Foods back in 2016 for a record $14 billion.
 
Amazon Prime already has a viewer base of over 200 million and they plan to further increase the tally with the acquisition of MGM. They will now have access to MGM’s widely popular characters like Rocky, RoboCop, James Bond, Pink Panther, etc.
 
Founded in 1924, MGM have funded super successful films like Ben-Hur, Rocky and James Bond franchises.
 
Amazon has allocated another $11 billion for content creation and will be rolling out more exclusive content on its platform, Prime Video in the days to follow.


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