Amazon Cuts Deal to Buy MGM for $8.45B

A definitive merger agreement has been announced for Amazon to acquire MGM for $8.45 billion. MGM will bring to Amazon's table more than 4,000 movies and 17,000 TV shows. All totaled, MGM productions over the years won more than 180 Oscars and 100 Emmy awards. MGM will continue to operate as a label under the Amazon brand.