Amazon Said to Be in Talks to Buy MGM for $9 Billion: Report

Amazon is in talks to amass the long-lasting US film studio MGM for about $9 billion (roughly Rs. 65,770 crores), Selection reported on Monday, citing an individual accustomed to the matter. The standing of Amazon’s discussions with MGM is unclear, the report mentioned.

The film studio behind the James Bond franchise, additionally owns the Epix cable channel and makes TV reveals, together with standard reveals like The Handmaid’s Story, Fargo, Vikings, and Shark Tank.

Amazon and MGM each declined to touch upon the event. The report says that the deal is orchestrated by Amazon Studios and Prime Video senior vice chairman Mike Hopkins, together with MGM board chairman Kevin Ulrich. The report additionally says that some sources are claiming that the Amazon-MGM deal might be value about $5 billion (roughly Rs. 36,530 crores). The Info was the primary to convey phrase of the acquisition talks.

Again in December 2019, Apple reportedly held talks with MGM as a part of its efforts to spice up Apple TV service. No official bulletins have been made by the iPhone maker on the outcomes of these conferences.

In December, Reuters reported that the film studio was exploring a sale and had tapped funding banks Morgan Stanley and LionTree and began a proper sale course of.