Amazon Said to Be in Talks to Buy MGM for $9 Billion: Outline
Amazon is in talks to acquire the iconic US movie studio MGM for about $9 billion (roughly Rs. 65,770 crores), Variety reported on Monday, citing a person that popular with the matter. The status of Amazon’s discussions with MGM is unclear, the report said.
The movie studio behind the James Bond franchise, also owns the Epix cable channel and makes TV shows, including popular shows like The Handmaid’s Tale, Fargo, Vikings, and Shark Tank.
Amazon and MGM both turn down to comment on the improvement The outline says that the deal is orchestrated by Amazon Studios and Prime Video senior vice president Mike Hopkins, along with MGM board chairman Kevin Ulrich. The report also says that some sources are claiming that the Amazon-MGM deal could be worth about $5 billion (roughly Rs. 36,530 crores). The Information was the first to bring word of the accession talks.
Back in December 2019, Apple reportedly held talks with MGM as part of its efforts to boost Apple TV service. No official announcements were made by the iPhone maker on the outcomes of those meetings.
In December, Reuters reported that the movie studio was exploring a sale and had tapped investment banks Morgan Stanley and Lion Tree and started solemn sale process.