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Why Amazon Needs MGM
Why Amazon Needs MGM
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Retail giant Amazon swallowed the legendary studio MGM, amassing a trove of iconic movies including the James Bond 007 franchise. The move is part of a larger consolidation in the entertainment industry as the streaming wars heat up and Amazon tries to compete with Disney and Netflix.
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The move culminates Century City-based MGM's prolonged search for a buyer that has been rumored for over a decade. MGM counts over 4,000 films among its assets, including "Silence of the Lambs," "12 Angry Men," "Rocky" and "Tomb Raider."
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