Today, it has been officially announced that Amazon and MGM have entered into a definite merger agreement allowing Amazon to officially acquire MGM for a purchase price of $8.45 billion.
“It has been an honor to have been a part of the incredible transformation of Metro Goldwyn Mayer.
Through this acquisition, Amazon plans to help preserve MGM’s near-century-long film heritage and catalog of films by providing customers with greater access to these existing works.
MGM currently has ownership of over 4000 titles and 17,000 hours of television programming.