Amazon Completes Purchase of MGM Studios

(Seattle, WA) -- Seattle-based Amazon now owns M-G-M. The $8.5 billion deal is finalized, giving the online retail giant ownership of the legendary Hollywood film studio. The Metro-Goldwyn-Meyer catalog includes 4,000 films spanning its 98 years in business. It also includes over 14-thousand TV episodes. Those can now be added to the Amazon Prime Video streaming service.

Among the more notable MGM flicks (according to Derek) are Singing in the Rain, the Rocky movies, and the 007 movies.

According to Frank: Wizard of Oz, and the first Captain America movie that came out in 1990.

The move should help Amazon keep pace with other groups like Disney and HBO as the metaphorical arms race for digital entertainment content continues.