Amazon announced Wednesday it is buying MGM for $8.45 billion.
This is Amazon’s second biggest acquisition. The company bought Whole Foods for $13.7 billion back in 2017.
The deal with MGM allows Amazon Prime to better compete with streaming rivals like Netflix and Disney+. MGM owns a large catalogue of films and TV shows, including the James Bond Franchise, the Epic cable channel, and popular TV shows like “Fargo”, “Vikings”, and “Shark Tank”.