Amazon buys MGM Studios

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.

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