Amazon To Buy Hollywood Studio MGM For $8.45 Billion

Amazon is set to buy renowned Hollywood studio, Metro Goldwyn Meyer (MGM), in a deal said to be worth $8.7 billion to strengthen its streaming catalog.

The move will offer a number of successful movie franchises to its streaming platform, Prime Video, including James Bond, Rocky, The Hobbit and Robocop.

The deal would also offer Prime Video access to successful TV shows like ‘The Handmaid’s Tale’ and ‘Fargo’.

Prime Video, which is currently 10 years old, fared very well during the pandemic after obtaining the rights to movies like the widly successful ‘Coming2America’, as well as the sequel to ‘Borat’.

Amazon CEO, Jeff Bezos, recently said Prime Video was watched by over 175 million subscribers in the past year.