Metro-Goldwyn-Mayer (MGM), the producer of famous cartoons Tom and Jerry has purchased by Amazon for 8.45 billion dollars. Amazon is purchasing 4,000 films and over 7,000 episodes from MGM Studios. It includes well known films like James Bond and The Habit. ۔
The goal of Amazon’s purchase is to provide Prime subscribers with as much fresh entertainment material as possible. In 2017, Amazon purchased a wholesale food grocery store in the United States for $14 billion. Now this is the second largest acquisition by an online shopping firm.
With the purchased of MGM producer by Amazon, the online retailer hopes to fight the rising popularity of streaming services like Netflix and Disney+. Nevertheless, the corporation has not yet disclosed the number of video streaming users. 200 million people believe this to be true.
Moreover, Amazon has stated that it intends to leverage MGM’s vast collection of films. It includes Tom and Jerry, Rocky, Rabo Coop, and Pink Panther. Amazon will use these movies and series as a source of inspiration for future projects.
It should note that Marcus Lowe founded the Metro-Goldwyn-Mayer (MGM) in April 1924. It was at its peak in the 1930s and 1940s. Greta Garbo, John Gilbert and Norma Shearer were among the stars MGM worked with during this period.