Amazon is buying MGM Studios for $8.45B

The big media consolidation continues — day after rumors swirled around Amazon’s acquisition of MGM, the online massive retailer confirmed today that it will be acquiring the nearly 100-year-old studio for a cool $8.45 billion.
The deal is another big step toward bolster Amazon’s fight in the streaming wars, with some 4,000 films. The list includes the James Bond and Rocky series and classics ranging from Fargo to Robocop to Silence of the Lambs. Also included are more than 17,000 TV shows. Once the deal closes, the short term impact will be unfettered access for Amazon’s Prime Video platform, giving the service a leg up against rivals like Netflix, Hulu and HBO Max.
As we’ve seen with the launch of studio streaming platforms like Disney+, the deal will also likely result in that content being pulled from competing services, once existing contracts end. “The real financial value behind this deal is the treasure


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