Amazon may soon be the new owner of a major Hollywood studio. The online retailer is in talks to purchase MGM for between $7 billion and $10 billion. If it doesn't fall apart at the last minute, the deal would represent Amazon's second-largest acquisition ever after the deal to acquire Whole Foods for $13.7 billion in 2017. Amazon could use the clout of a studio like MGM as it competes against Netflix and Disney+.
Citing anonymous sources, the Wall Street Journal said the Silicon Valley/Hollywood pact could be announced “as early as this week.”