Amazon to acquire MGM Studios for $8.5 billion
26 May 2021
Amazon announced Wednesday it reached a deal to acquire MGM Studios for $8.45 billion, including debt. MGM is the home to several blockbuster franchises, including James Bond.
Why it matters: The deal — Amazon's second-largest acquisition ever, behind the $13.7 billion Whole Foods deal — marks a major milestone in the tech sector's push into entertainment.
Between the lines: MGM is a logical asset for Amazon to sweep up, given that it's one of the few remaining independent media assets available for purchase, alongside a handful of other studios and networks like Lionsgate and AMC Network.
- Other tech giants like Apple and Netflix have reportedly eyed MGM, but ultimately passed on buying it. Tech companies have traditionally been hesitant to buy content companies that they could instead build themselves.
- Amazon has already built its own movie studio, but the addition of MGM could strengthen it significantly increase the amount of content it would own and be able to license to other TV networks or streamers.
The big picture: The WarnerMedia-Discovery deal announced last week has sparked a frenzy among media companies looking to get even bigger to compete.
What to watch: While the Amazon deal is unlikely to face much antitrust scrutiny, policy experts expect it to heighten calls for antitrust legislation. Some lawmakers already started weighing in amid rumors of the potential deal.
This story is breaking news. Please check back for updates.
Transcripts show George Floyd told police "I can't breathe" over 20 times
Section2Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.
Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.
The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.
- The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.
What the transcripts say:
- Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
- The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
- Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."
Read the transcripts via DocumentCloud.