The acquisition is subject to regulatory approvals.
What you need to know
Amazon will acquire MGM for $8.45 billion.
MGM had been looking for a buyer since last year.
The company had previously held acquisition talks with Apple, Comcast, and Netflix.
Amazon today announced that it has signed an agreement to acquire iconic film studio MGM for $8.45 billion. In a press release announcing the deal, Amazon said that it plans to `preserve MGM`s heritage` and empower the company to `continue to do what they do best: great storytelling.`
MGM, which is best known for its James Bond film franchise, boasts a massive catalog of over 4,000 movies and 17,000 TV shows. Aside from the upcoming Bond film No Time to Die, MGM has quite a few exciting releases in the pipeline — including The Addams Family 2, House of Gucci, Respect, and the untitled Paul Thomas Anderson film.
As reported by Variety, MGM began looking for a buyer back in December. Both Apple and Comcast had reportedly conside...
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