Amazon to Buy MGM in $8.45 Billion Deal

Talking Tech
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Listeners. It's brett molina. Welcome back to talking tech co. Mike snyder is off today. So how's this for a summer. Movie blockbuster amazon confirmed on wednesday that it will acquire movie studio. Mgm in a deal that's valued at eight point. Four five billion dollars in a statement amazon said they will help preserve. mgm's heritage a films which includes more than four thousand titles including a lot of names. That i'm sure many of you are familiar with james bond. The magnificent seven raging bull rocky legally blonde a lot of very popular very well known films. Mgm also owned several popular tv shows including the handmaid's tale which is currently in the middle of its fourth season on hulu. The deal is still subject to regulatory approval amazon. Didn't say when they expect to steal to close and when they would officially own mgm but clearly. This is a pretty significant step on several factors it highlights a lot of consolidation that we're noticing in the streaming market These there are a lot of these Different services out there and it's getting very competitive and we're seeing a lot of consolidation here. One example of this is a t and t. They announced that deal earlier this month to combine its media business with discovery so that brings together stuff like. Hbo max and then cnn tbs tnt with discovery networks like food network hdtv now if you are a subscriber to amazon. This is an interesting proposition because now if you have a subscription to prime video you have this new collection of movies and tv shows the you can draw from if you subscribe to other services. I don't know exactly which. Mgm movies are available in one which services. But it's possible. Maybe some of those movies. We'll transition

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