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The streaming and entertainment wars continue with a big purchase by Amazon this week. The mega conglomerate will take on MGM studios for a sum of $8.45 billion.

MGM Studios is arguably one of the most recognizable brands in entertainment. With their iconic opening sequence with the roaring lion to their all time projects including 12 Angry Men and The Handmaid's Tale.

The deal's focus will be for MGM's deep catalog and rich heritage to add to Amazon Studio's already robust programming. Amazon will now also have access to more movies and shows from MGM's catalog and will takeover popular franchises.

The purchase is Amazon's second biggest ever, with the company's purchase of Whole Foods in 2017 at $13.7 billion being the largest.

This meg adeal joins the ranks of many recent entertainment mergers and acquisitions. Recent examples include AT&T's merger with WarnerMedia and Discovery Plus.

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