Amazon has announced the agreement to buy MGM (Metro-Goldwyn-Mayer) – a film producing company for 8.45 billion on 26 May, 2021. Amazon said that MGM’s filmmaking prowess “complements the work of Amazon Studios, which has primarily focused on producing TV show programming.”

Buying MGM would allow Amazon to add plenty of movies to its Prime Video streaming services. “Amazon will help preserve MGM’s heritage and catalog films and provide customers with greater access to these existing works.

This acquisition would become Amazon’s second largest acquisition after its $13.7 billion purchase of Whole Foods in 2017. The pending purchase “has an equity value of $6.5 billion and Amazon said the value of the deal will be 8.45 billion in total including the debt.”