Amazon acquires MGM for a $8.5 billion deal

Can you believe your eyes if we tell you that James Bond is now an Amazon employee? 

Well, it’s true as the tech giant founded by Jeff Bezos is set to acquire one of the most iconic movie studios in Hollywood history, the home of the bond franchise, MGM for a whopping sum of $8.5 billion.

The deal will bring MGM & it’s more than 4000 films and 17000 TV shows under the Amazon umbrella, one of them obviously being the James Bond franchise which has racked up billions of dollars over the past 60 years. ‘“MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience,” Mike Hopkins, SVP of Prime Video and Amazon Studios, said in a statement.

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MGM also houses other notable franchises, including “Rocky,” “The Handmaid’s Tale,” “Robocop,” “Legally Blonde” and the Epix TV network.

The move looks to bolster the company’s position in the entertainment world while giving its streaming service, Amazon Prime Video, even more content to fill its already extensive library. This should help Amazon challenge rivals such as Netflix (NFLX) and Disney+ in the hyper competitive streaming market.

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