Amazon has agreed to shop for movie studio MGM for $8.45bn, the 2 firms mentioned in a observation.
The deal brings in combination “just about a century of filmmaking historical past” at MGM with Amazon Studios, which makes movies and TV sequence for patrons of its Top subscription provider, they mentioned.
“Amazon will lend a hand keep MGM’s heritage and catalogue of flicks, and supply consumers with larger get entry to to those present works,” the observation added.
Affirmation of the deal, which used to be first reported to be within the works final week, is the most recent giant transfer within the combat for video streaming – after Warner Media used to be spun off by way of proprietor AT&T to merge with Discovery.
It arms Amazon a wealth of content material – from movies comparable to Rocky, Robocop and Singin’ In The Rain to fact TV staples comparable to The Actual Housewives of Beverley Hills – because it takes at the likes of Netflix and Disney+.
The purchase is Amazon’s 2nd greatest after it snapped up grocery chain Entire Meals for just about $14bn in 2017.