Why Amazon just spent more than $8 billion on MGM

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MGM, a classic Hollywood brand synonymous with “The Wizard of Oz” and Leo the roaring lion, was purchased for $8.45 billion on Wednesday by Amazon, a company currently valued at nearly $1.7 trillion. Being gobbled up by a tech behemoth is a fitting finale for a studio that has been whittled down over the last century by one technology disruption after another.