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Amazon is in talks to buy MGM for $9 billion

2021-05-18 16:08 by
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Amazon is reportedly in talks to buy MGM, the film studio that was a staple of Hollywood's Golden Age. A tie-up would give the tech firm a big brand to wield as competition in streaming grows fiercer by the day. Amazon is considering a bid of about $9 billion. Discussions could still fall apart and details such as price may change.

The studio has been friendly with Amazon in recent years, inking a deal to stream some of their content on the streamer back in 2012 with the deal expanding in the years following.

Amazon currently has more than 200 million Prime members worldwide, and Jeff Bezos recently told investors that 175 million of those streamed Prime Video content in the past year. The company clearly wants to turn Prime Video into an even bigger habit for customers worldwide - and a quick way to do that would be to stir MGM's extensive library of titles into the mix.

MGM has the rights to several signature franchises including James Bond, Rocky, Pink Panther, Legally Blonde, and Robocop. It also owns the Epix network and makes TV series "The Handmaid's Tale" and "Fargo" for Hulu.

Amazon declined to comment on the report, saying it "doesn't comment on rumors or speculation".

Read more -here-


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