The ruthless war between the world’s leading video-on-demand companies reached a climax when the Amazon acquired the legendary Hollywood studio MGM (Metro Goldwyn Mayer) in a deal worth US$8.45 billion. The sale of MGM on May 26 followed more than six months of negotiations. The American studio known for its roaring lion had been weakened by major financial difficulties before the pandemic. The prolonged closure of movie theatres was the final nail in its coffin. Although the MGM studio had a low market value (estimated at only US$5.5 billion a few months ago), several giants of the digital industry, including…
This story continues at The Next Web
