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Amazon Makes A Deal To Buy MGM For Nearly $8.5 Billion
By Anastasia Tsioulcas
May 26, 2021
Editor’s note: Amazon is among NPR’s financial supporters.
Amazon has made a deal to buy Hollywood studio MGM for almost $8.5 billion. It’s the second-largest acquisition for the company after purchasing Whole Foods.
The tech company already runs a film studio, Prime Video streaming service, and video game streaming site Twitch. But the MGM deal is its biggest move into entertainment. Amazon will get the rights to the Golden Age studio’s film and television library.
The announcement was made Wednesday morning by the two companies. In a statement, Amazon’s senior vice president of Prime Video and Amazon Studios, Mike Hopkins, emphasized the intellectual property value of MGM’s vast holdings, which go back to the 1920s. “The real financial value behind this deal,” Hopkins said, “is the treasure trove of IP in the deep catalog that we plan to reimagine and develop toge
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