Amazon is buying Hollywood film studio MGM, home of the James Bond franchise, for $8.45 billion (£6bn), giving it a huge library of films and TV shows and ramping up competition with streaming rivals led by Netflix and Disney+.
The online retail giant led by Jeff Bezos will swallow up nearly a century of film-making history as it bulks up its Prime subscription service. It hands Amazon a waelth of content from films such as Rocky, Robocop and Singin' In The Rain to reality TV staples such as The Real Housewives of Beverley Hills.
Founded in 1924, MGM has - like other film studios - endured tough times during the pandemic with cinemas closed and its release date for new Bond film No Time To Die repeatedly delayed.
A joint statement from the companies said: "Amazon will help preserve MGM's heritage and catalogue of films, and provide customers with greater access to these existing works."
It marks the latest big move in the battle for video streaming following the spin-off of Warner Media to merge with Discovery in a £30.5bn tie-up. It comes as Mr Bezos prepares to step down as chief executive of Amazon this summer.
Edinburgh's largest beer garden opens for the summer
Edinburgh’s largest beer garden, Festival Village, has officially opened on Waverley Mall’s iconic rooftop in the heart of the capital.
In parnership with Edinburgh Gin, Waverley Mall owner Moorgarth has created its largest pop-up to date. The venue will remain throughout the summer months, open seven days a week from 11am-10pm and operating on a strict first-come, first-served basis.
Neil Mowat, Edinburgh Gin brand director, said: “We’re excited to collaborate with the Festival Village to craft a summer gin garden at the heart of the wonder-filled city of Edinburgh.
"It’s great to be back in the hospitality space and we’re looking forward to sharing a G&T with gin lovers new and old alike!”
Well-known for its street food, Festival Village has teamed up this year with Edinburgh’s Pizza Geeks, Say Cheese, Fizz & Pearl, Butcher Boy and Flower of Milk.
"We are super-excited to be at Festival Village this summer, it's such a fantastic spot for our first event," said Seren Argent, owner of Flower of Milk. "In Scotland we can't be guaranteed nice weather but with our gelato everyday can taste like summer."
Festival Village will also be working closely with new craft brand, Smugglers Spirits, which has its own bar at the rear of the venue overlooking Edinburgh’s Old Town.
Marketing director of Festival Village, Aoibhínn Cullen said: "We are absolutely delighted to be back with Festival Village, in what is our biggest set-up to date.
"It is fantastic to see things opening back up, particularly within our industry, which has been one of the worst affected by the pandemic. We have spent many months planning this season's set-up, with lots of heaters and retractable roofs to ensure customers' comfort, whatever the weather.”
Glasgow is being hit hard by travel ban
In today's Herald business section, Glasgow Chamber of Commerce chief executive Stuart Patrick looks at the "palpable sense and an increasingly vocal expression of the injustice Glasgow business owners" about being trapped in Level 3, and the damage being inflicted by local authority travel restrictions.
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