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Jeff Bezos’ Amazon to Buy MGM Movie Studio For $6.5 Billion

Jeff Bezos’ Amazon to Buy MGM Movie Studio For $6.5 Billion

Jeff Bezos’ Amazon to Buy MGM Movie Studio For $6.5 Billion

  • Amazon Inc is set to acquire American movie studio, MGM in a deal valued at $6.5 billion

  • The e-commerce company plans to use this deal to push its streaming platform Amazon Prime

  • By acquiring the Hollywood movie studio, Amazon has a library of over 4,000 movies, giving users access to movies like Rocky and James Bond

Amazon has announced that it has reached an agreement to acquire movie studio MGM in a deal that is worth $6.5 billion.


The e-commerce company is betting that this deal can boost its streaming platform, Amazon Prime and enable it to compete with rivals, Netflix and Disney.

The purchase which was announced on Wednesday totals $8.45 billion when debts are included.

The studio acquisition is the second-largest ever by Jeff Bezos’ company after their acquisition of Whole Foods in 2017 for $13.7 billion.

Following the acquisition, Amazon will have access to over 4,000 films including Rocky, James Bond, and 12 Angry Men.

Amazon Prime users will also have access to TV series like Tale, Fargo and Vikings.

Read also: World’s Most Expensive Car Reportedly Owned by Beyonce and JayZ

According to MGM Chairman Kevin Ulrich, the combination of both companies is going to be “inspiring”.

Amazon has been willing to make big investments in video content to bolster its streaming service.

In 2020, $11 billion was spent on video and music content, more than $7.8 billion spent in 2019.

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