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Amazon and MGM announced that they have entered into a definitive merger agreement under which Amazon will acquire MGM for a purchase price of US$8.45 billion.

With the MGM deal, Amazon could continue building its presence in entertainment, and potentially mine the studio's well-known franchises for future series and films.

Amazon is in talks to buy MGM in a deal that could be valued at between US$7 billion and US$10 billion, several sources reported in the last hours.

MGM’s International Distribution and Acquisitions division announced that MGM’s on-demand subscription service is now available to customers across select countries in Latin America through Apple TV channels.

The platform debuts with more than 40 channels and more than 10.000 hours of content in Spanish, with exclusive programming from Univision and Televisa, and more from major Hollywood studios, such as Disney, MGM and Lionsgate, coming soon.