Entertainment

Amazon to buy MGM, studio behind James Bond and ‘Shark Tank’

today05/27/2021 4

Background
share close

NEW YORK (AP) — Online shopping giant Amazon is buying MGM, the movie and TV studio behind James Bond, “Legally Blonde” and “Shark Tank,” with the hopes of filling its video streaming service with more stuff to watch.

Amazon is paying $8.45 billion for MGM, making it the company’s second-largest acquisition after buying grocer Whole Foods for nearly $14 billion in 2017. The deal is the latest in the media industry that’s aimed at boosting streaming services to compete against Netflix and Disney+.

AT&T and Discovery announced last week that they would combine media companies, creating a powerhouse that includes HGTV, CNN, Food Network and HBO.

 

Source: AP – All contents copyright 2021 Associated Press. All rights reserved.

 

Written by: Editor

Rate it

Previous post

Events

Tenured faculty challenge Wesley College acquisition by DSU

DOVER, Del. (AP) — Tenured faculty members of a struggling private college are asking a judge to halt its pending acquisition by Delaware State University. The lawsuit filed Tuesday claims that Wesley College breached its contractual obligations to faculty members and challenges the acquisition by DSU as a fraudulent transfer of assets. Wesley is a 148-year-old private school in Dover associated with the Methodist church. It has struggled for years […]

today05/27/2021 11

0%