After Wholefoods, the deal to acquire MGM for $8.45bn is Amazon’s most expensive buy to date. The deal will help Amazon’s Prime video to add a collection of 4000 films and 17,000+ TV shows. MGM will help Amazon compete with its rivals Netflix, Disney+ as it will give them popular content that lasts longer. MGM compliments the work of Amazon studios as the main focus is on producing TV show programming rather than original feature films.
Amazon is negotiating a deal to buy US film giants MGM for $9bn. The potential range of the deal could be between $7bn to $10bn is being considered but MGM is confident to get it done in $9bn, said reports. MGM comes with its catalog of 4,000 films and 17,000 hours of TV content going back decades with a chain of production and distribution companies, and content network Epix. Earlier, in December 2020, MGM was up for sale at a $5 bn price tag.