Amazon has struck a deal to buy Hollywood institution MGM Studios as the tech titan expands its entertainment streaming business.
The $8.45bn (£5.97bn) acquisition will give Amazon access to MGM’s vast back catalogue of more than 4,000 film titles, including those from the James Bond franchise, as well as 17,000 TV shows including The Handmaid’s Tale and Vikings.
Amazon will integrate the content into its Prime Video platform and will also also gain access to all of MGM’s upcoming releases.
The etailer’s own studio, Amazon Studios, has so far primarily focused on creating TV series, but the MGM deal will provide Prime subscribers with access to more original movies.
The deal marks Amazon’s largest acquisition since its $13.7bn (£10.7bn) swoop on Whole Foods back in 2017.
Amazon said its latest purchase would allow MGM “to continue to do what they do best: great storytelling”.
Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said: “The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team. It’s very exciting and provides so many opportunities for high-quality storytelling.”
MGM chair Kevin Ulrich added: “I am very proud that MGM’s Lion, which has long evoked the Golden Age of Hollywood, will continue its storied history.
“The opportunity to align MGM’s storied history with Amazon is an inspiring combination.”
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