Amazon Buys MGM in Blockbuster Deal

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Source: Pavlo Gonchar/LightRocket/Getty Images https://www.cnbc.com/2021/05/27/how-much-amazons-stock-value-has-grown-since-2011.html

By Nathan Weiss

With Jeff Bezos at the head, Amazon has continued to rage on in the business world. From its roots as the world’s largest online store, Amazon has evolved into a powerhouse in the world of industry. With Amazon Prime Video growing alongside more success for the company, the streaming service joined Netflix and Hulu among other popular entertainment giants, though it doesn’t seem like they’re close to slowing down. 

Amazon announced its purchase of MGM, or Metro-Goldwyn-Mayer, for a whopping 8.45 billion dollars. Amazon appears to be making it known that they are in the entertainment business for the long haul. As it was Amazon’s second most expensive acquisition yet, topped only by the purchase of Whole Foods Market for a massive 13.7 billion dollars, one is left to wonder what Amazon plans on doing to further MGM’s properties. 

With multiple famous series like James Bond and the Rocky movies now under Amazon’s belt, it looks like Bezos is planning to revamp the nearly 100-year-old company’s properties. As MGM looks towards its new future with Amazon, many are left wondering if this purchase is an outlier for the company or an indication of larger purchases to come. Whichever the outcome may be, it looks like fans of MGM’s great series may have something to look forward to in the distant future.

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