The New Paper

May 26, 2021

Amazon acquires MGM

Amazon announced plans to acquire MGM for $8.5B today, following reports of a potential transaction earlier this week. The acquisition will bring MGM’s extensive content library (including 4k films, 17k TV shows, and several upcoming films) under the Prime Video and Amazon Studios umbrellas. 

More context: The deal comes amid increasing competition in the streaming industry, including the recent combination of WarnerMedia and Discovery.
This story is from the May 26, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.