Amazon Said to Be in Talks to Buy MGM for $9 Billion
Amazon is in talks to acquire the iconic US movie studio MGM for about $9 billion. Amazon and MGM both declined to comment.
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.
The report 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.
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 LionTree and started a formal sale process.