Amazon buys Metro Goldwyn Mayer

Amazon buys Metro Goldwyn Mayer

Amazon bought Metro Goldwyn Mayer for $ 8.45 billion.

MGM’s library contains more than 4 thousand movies and more than 17 thousand television content. Amazon’s shares rose 0.5 percent after the news. This acquisition by Amazon is the second largest deal after the $ 13.7 billion in Whole Foods acquisition in 2017.

The acquisition took place after AT&T merged with Discovery. AT&T Inc. has invested $ 85 billion in the media business in the last three years. Separated this line of business from the company and became Discovery Inc. agreed with the $ 43 billion purchase.

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