Amazon will buy the MGM movie studio. This in order to be able to offer more streaming content. LThe transaction will cost $ 8.45 billion.
MGM, is a film studio responsible for successful productions such as James Bond movies, “Legally Blonde” and “Shark Tank.”
This is Amazon’s second large acquisition, after buying the grocery store Whole Foods. The purchase amounted to $ 14 billion in 2017.
With this transaction, Amazon seeks to compete with Netflix and Disney +, since more than 200 million people have access to the Prime Video service. In addition to Prime Video, Amazon also has a free streaming service called IMDb TV, where it makes money from advertising.
Another important alliance is that of AT&T and Discovery. Both announced a few days ago that they will combine their media divisions, creating a company that will include HGTV, CNN, Food Network and HBO.
What will you be able to see the Amazon streaming service?
The MGM acquisition will give Amazon access to more content, movies and characters like Rocky, RoboCop and the Pink Panther. You will also get the Epix cable channel, currently owned by MGM.
MGM is one of the oldest movie studios in Hollywood, founded in 1924, in the era of silent movies. The studio has a long inventory of film classics such as the musical “Singin ‘in the Rain.” In more recent years he has produced reality shows like “Shark Tank” and “The Real Housewives of Beverly Hills” and movies like the upcoming James Bond “No Time to Die” and the Aretha Franklin biopic “Respect.”
Amazon already has its own movie studio, but the results have been mixed. Two of his shows, “The Marvelous Mrs. Maisel” and “Fleabag,” won Emmys, but most of his films haven’t been popular.
The deal, which has yet to be approved by the respective boards, will further increase the size of Amazon, which is already one of the most powerful and valuable companies in the world.
With information from The Associated Press
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