Amazon has agreed to buy MGM for $8.45 billion, according to press release. The e-commerce giant will capitalize on MGM’s IP collections in film to exploit new opportunities in quality storytelling.
With a collection of at least 4,000 films and 17,000 TV shows, MGM provides a good fit for Amazon Studios in TV show programming.
Amazon will preserve MGM’s brand and provide clients with enriched access to the already existing works.
Amazon stock is currently gaining. AMZN: NASDAQ is up 0.14%.
