Amazon brings James Bond, Rocky to fight Netflix with $8.5 billion MGM buy

Amazon.com Inc will buy MGM, the fabled U.S. movie studio home to the James Bond franchise, for $8.45 billion, giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.

Amazon.com Inc will buy MGM, the fabled U.S. movie studio home to the James Bond franchise, for $8.45 billion, giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+. The deal aims to bolster Amazon’s television-focused studio with new and historic filmmaking from MGM, which has snapped up lucrative series including "Rocky" and "Tomb Raider" since its founding in 1924. Streaming video helps the world’s largest online retailer draw people to subscribe to Prime, a club with fast shipping, and to shop more once they’re members.