Amazon buys media company MGM for $ 8.45 billion

Amazon buys media company MGM for $ 8.45 billion. With news, there is a huge increase in amazon shares.

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US e-commerce giant Amazon has agreed to buy the media company MGM for $ 8.45 billion.

Amazon will thus make its second major acquisition in 2017 after the acquisition of supermarket chain Whole Foods.

In a statement made by Amazon, it was stated that Metro Goldwyn Mayer (MGM) has nearly a century of filmmaking experience and completed the work of Amazon Studios, which primarily focused on television programs.

In the statement that the agreement was signed for Amazon to purchase MGM for $ 8.45 billion, it was noted that Amazon will help preserve MGM’s legacy and movie catalog, and that customers will have more access to existing work.


Amazon’s shares rose 0.5 percent after the news. The purchase deal with MGM is Amazon’s second largest purchase. The company bought supermarket chain Whole Foods for $ 13.7 billion in 2017.

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