Amazon buys MGM in a multibillion-dollar deal
Editor's note: Amazon is among NPR's financial supporters.
Amazon's nearly $8.5 billion deal to purchase the film and television studio MGM is official. The two companies announced Wednesday that MGM is now a part of Prime Video and Amazon Studios — cementing the merger that was first announced last May.
This is the second-largest acquisition for Amazon after purchasing Whole Foods. The purchase of the movie and TV studio behind iconic films like the James Bond franchise, Rocky, The Silence of the Lambs and Legally Blonde is just the latest in big-name media and streaming-service mergers.
Last year, AT&T announced a merger of WarnerMedia with Discovery, encompassing major networks like HBO, CNN, HGTV and others, to create a streaming behemoth.
It's unclear when Amazon Prime subscribers will start to see on the site the full MGM catalog, which includes more than 4,000 film titles and 17,000 TV episodes. [Copyright 2022 NPR]
