Amazon said Wednesday it will acquire MGM Studios for $8.45 billion, marking its boldest move yet into the entertainment industry and turbocharging its streaming ambitions. The deal is the second-largest acquisition in Amazon’s history, behind its $13.7 billion purchase of Whole Foods in 2017. Amazon said it hopes to leverage MGM’s storied filmmaking history and wide-ranging catalog of […] Read more
China — The growth of Alibaba’s cloud business outpaced Amazon and Microsoft in the quarter ending in September, and the Chinese tech giant reiterated its commitment to making the unit profitable by next March. Alibaba reported cloud computing brought in revenue of 14.89 billion yuan ($2.24 billion) in the three months ending Sept. 30. That’s a 60% year-on-year rise […] Read more
