Amazon To Buy Mgm Studios

South Park creators Trey Parker and Matt Stone on Thursday signed a massive contract with streaming service Paramount+ to make 14 movies of their satirical cartoon.

Amazon founder Jeff Bezos said that he will hand over operational control to his successor on July 5, leaving as the e-commerce giant flexes its muscles in television and cloud.

Amazon said it is buying MGM, the fabled US movie studio home to the James Bond franchise, for $8.45 billion (roughly Rs. 61,500 crores), giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.

The acquisition is Amazon's second-biggest after Whole Foods Market, which it bought for $13.7 billion in 2017. The deal is designed to help Amazon supercharge its Amazon Prime Video service.

Amazon has agreed to buy the storied MGM studios for $8.45 billion, the companies said Wednesday, giving the US tech giant a vast library to further its ambitions in streaming.

South Park creators Trey Parker and Matt Stone on Thursday signed a massive contract with streaming service Paramount+ to make 14 movies of their satirical cartoon.

Amazon founder Jeff Bezos said that he will hand over operational control to his successor on July 5, leaving as the e-commerce giant flexes its muscles in television and cloud.

Amazon said it is buying MGM, the fabled US movie studio home to the James Bond franchise, for $8.45 billion (roughly Rs. 61,500 crores), giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.

The acquisition is Amazon's second-biggest after Whole Foods Market, which it bought for $13.7 billion in 2017. The deal is designed to help Amazon supercharge its Amazon Prime Video service.

Amazon has agreed to buy the storied MGM studios for $8.45 billion, the companies said Wednesday, giving the US tech giant a vast library to further its ambitions in streaming.