Amazon has signed a deal to buy MGM studios for $ 8.45 billion.
MGM has nearly 100 years of film history and is complementary to the work of Amazon Studios, which focuses on producing shows for TV, the notes read.
"MGM has an extensive catalog of over 4,000 films," says Mike Hopkins, senior vice president of Prime Video and Amazon Studios, noting "the true financial value of this deal is the catalog's intellectual property treasure," he adds.