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News Every Day |

Amazon's $8.5 billion blockbuster deal with MGM is about to shake up the streaming wars

MGM logo and Bezos
The streaming wars are still heating up, especially when it comes to strategic M&A.

Hello! This story is from today's edition of Morning Brew, an awesome daily email publication read by 2.5 million next-generation leaders like you. Sign up here to get it!

After weeks of rumors, Amazon finally laid its goldfinger on MGM in a deal worth $8.5 billion. It's Amazon's second-largest acquisition after Whole Foods and the first time a tech company has bought a major legacy media firm.

Leo the Lion's roar has a big echo

MGM's iconic mascot reflects the movie studio's blockbuster content catalog-featuring franchises such as Legally Blonde, James Bond, Rocky, and Creed-that could soon port over to Amazon Prime Video.

  • Amazon will get a leg up at the Emmys too, and not just because MGM houses The Handmaid's Tale, Fargo, and Vikings, but also because it's a studio capable of churning out more prestige TV.

However...while quarantined viewers proved they're willing to sign up for multiple streaming services (Disney+, Discovery+, and Paramount+ all reported impressive growth numbers) they'll all soon compete with social calendars filled with more events than "4:30-Stare into the abyss."

Zoom out: The streaming wars are still heating up, especially when it comes to strategic M&A (earlier this month, AT&T said it'll merge WarnerMedia and Discovery). MGM could make Amazon Prime Video more than the streaming service you forgot you're subscribed to.

This story is from today's edition of Morning Brew, a daily email publication. Sign up here to get it!

Read the original article on Business Insider

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