The content delivery network (CDN) specialist experienced a service outage that could tarnish its reputation but that deepens its relationship with Apple.
Amazon vs. Netflix: Jeff Bezos Spends $8 Billion in MGM Purchase Amid Streaming War
With news that Amazon has entered into an agreement to purchase a controlling stake at the classic Hollywood studio MGM, nothing else could strengthen the tech giant more as it bulds its streaming portfolio.
Photo : Edward Smith/Getty Images
With news that Amazon has entered into an agreement to purchase a controlling stake at the classic Hollywood studio MGM, nothing else could strengthen the tech giant more as it bulds its streaming portfolio.
Amazon Builds Content Muscle in Streaming War Against Netflix
This $8.45 billion deal, as reported by CNBC, would build immense content muscle for Amazon s streaming platform the Amazon Prime Video in a head-to-head battle against Netflix, as well as other players in the fast-rising market. After all, MGM has a widely acclaimed catalogue of movies, numbering 4,000, that cover a century of noted Hollywood filmmaking.
WASHINGTON: Amazon has agreed to buy the storied MGM studios for $8.45 billion, the companies said on Wednesday, giving the US tech giant a vast content library to further its ambitions in streaming.
Amazon has agreed to buy the storied MGM studios for $8.45 billion, the companies said Wednesday, giving the US tech giant a vast content library to further its ambitions in streaming.
The deal bolsters Amazon Prime Video, which competes with Netflix and others in the fast-evolving market, with some 4,000 films including the James Bond franchise and 17,000 television shows.
The move comes with Amazon experiencing surging growth in online retail and cloud computing, while making a push into entertainment as more consumers turn to streaming media.
It gives Amazon the fabled Metro Goldwyn Mayer studios, an iconic name in Hollywood which has been through a series of ownership changes and bankruptcy in recent years.