Amazon to buy MGM for $US6.5 billion, excluding debt

Original article by Joe Flint, Dave Sebastian
The Wall Street Journal – Page: Online : 27-May-21

Electronic commerce giant Amazon.com has struck a deal to acquire Hollywood film studio MGM. The deal will bolster Amazon’s subscription video-on-demand service as competition in the streaming market intensifies. MGM’s library of more than 4,000 films includes franchises such as James Bond, while the studio also produces television shows such as The Handmaid’s Tale. There is also scope for Amazon to create spin-offs from MGM’s popular franchises, a strategy used by rival streaming services. Amazon will pay $US6.5bn for MGM, or $US8.45bn including debt.

CORPORATES
AMAZON.COM INCORPORATED, AMAZON PRIME VIDEO, METRO-GOLDWYN-MAYER INCORPORATED

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