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Amazon Takes Over Hollywood Studio MGM for $8.45 billion And Twitter Reacts To The News

By: Saisha Dixit  | | 4 mins Fri, May 28, 2021 1:03 PM

The Hollywood studio responsible for franchises like James Bond and Rocky has been bought by Amazon for $8.45 billion.

 

To understand what a huge move this is, Amazon is now in possession of around 4,000 films and 17,000 hours of TV. The move gives Amazon Prime a huge advantage in its competition with media giants like Netflix and Disney plus.

 

The move has incited mixed reactions on the internet. Some people were happy to see their favourite movies/TV shows will now be available on Amazon Prime.

 

 

 

 

Some were concerned about Amazon's growing monopoly.

 

 

 

 

And some, obviously, had memes.

 

 

 

 

This is Amazon's second-biggest acquisition after acquiring the grocery chain Whole Foods for $13.7bn in 2017. A joint statement from the companies said: "Amazon will help preserve MGM's heritage and catalogue of films, and provide customers with greater access to these existing works."

 

Although media is not Amazon’s main product, they have been amping up Amazon Prime and building a steady user base for it. It’s like what CEO Jeff Bezos said in 2016: "When we win a Golden Globe, it helps us sell more shoes."

 

What do you think about this acquisition? Do you think Amazon’s monopoly is getting ridiculous at this point? Or do you think this could be a positive change? Tell us what you think in the comments. Like us on Facebook for more.

 

Also read: This Strangely Polite Conversation Between A Pakistani Thief And A Shopkeeper Has The Internet Amused

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