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Amazon announced Wednesday it reached a deal to acquire MGM Studios for $8.45 billion, including debt. MGM is the home to several blockbuster franchises, including James Bond.Why it matters: The deal — Amazon's second-largest acquisition ever, behind the $13.7 billion Whole Foods deal — represents a major milestone in the tech sector's push into entertainment.Get market news worthy of your time with Axios Markets. Subscribe for free.Between the lines: MGM is a logical asset for Amazon to sweep up, given that it's one of the few remaining independent media assets av...

Amazon has closed the deal to purchase Hollywood icon MGM Studios for $8.45 billion, the companies announced today in a joint statement.

Amazon has agreed to buy the storied MGM studios for $8.45 billion, the companies said Wednesday, giving the US tech giant a vast library to further its ambitions in streaming.

Most of the James Bond movies are available on the ad-supported services Tubi and Pluto TV. Others are on Netflix, Hulu, or Prime Video.

Online retail giant Amazon is purchasing movie and television studio MGM, a longtime Hollywood powerhouse, for $8.45 billion.