SEATTLE, Wash. (NBC) – An iconic American media company will soon have a new owner.
Amazon plans to acquire MGM Studios for 8.45 billion.
It’s amazon’s boldest move yet into the entertainment industry and turbo-charging its streaming ambitions.
The deal is the second-largest acquisition in Amazon’s history, behind its purchase of Whole Foods in 2017.
The deal emphasizes Amazon’s willingness to spend deeply to remain competitive in the crowded video streaming market.