Amazon to buy Hollywood studio MGM for $8.45 billion, with debt

Amazon.com Inc. has agreed to buy the Hollywood studio MGM Holdings for $8.45 billion, including debt, in a deal that would turn a film operation founded in the silent era into a streaming asset for the e-commerce company.

The pact signals that Amazon is renewing its emphasis on entertainment and seizing an opportunity to jump up in weight class.

The deal would mark Amazon’s second-largest acquisition in history, behind its $13.7 billion purchase of Whole Foods in 2017, and highlight the premium that content is commanding as streaming wars force consolidation and drive bigger players to bulk up with assets that help them compete.