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Amazon rumoured to buy MGM Studios for $11 billion –

Amazon rumoured to buy MGM Studios for $11 billion



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Amazon is in talks to buy famed movie studio MGM for a rumoured $11.5 billion ($US9 billion), according to a report in industry publication Variety.MGM is one of Hollywood’s oldest studios. It was established in 1924 and was also known as Metro-Goldwyn-Meyer Pictures. Variety reported late last year the company was exploring a sale.
MGM has a library of 4000 films and 17,000 episodes of TV, which makes it an enticing prospect for a streaming company from the tech sector looking to boost its archives…

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