Amazon buys MGM studios – level 3

31-05-2021 15:00

Amazon is going to buy MGM Studios for $8.5 billion. MGM Studios created many famous movies and TV shows such as Rocky, James Bond, and the award-winning Silence of the Lambs.

Amazon’s purchase of MGM helps it be stronger in the crowded and competitive streaming market. Amazon shelled out a lot on the streaming services for video and music content just in 2020.

Last week, AT&T merged its Warner Media business that includes HBO with Discovery, which led to another big change in the overall entertainment business.

Difficult words: crowded (when there are too many people in one place), streaming (when you watch a movie over the Internet), shell out (to spend a lot of money or effort), merge (to combine).

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