Amazon in talks to acquire MGM Studios
Amazon, a multinational technology company is on the verge of acquiring MGM studios as part of efforts to acquire more TV and Film content for it’s Prime Video Service.
Amazon’s interest is spurred by the desire to compete with Netflix Disney and other streaming video services.
The acquisition of MGM, co-owner of the James Bond franchise and other film and TV series is for between $8.5 billion and $9billion.
This deal would be Amazon’s second-largest acquisition in history, after its $13.7 billion deal for Whole Foods in 2017.
Hence, the acquisition of one of the iconic entertainment brands in the world will no doubt place the tech giant in a strategy position.
MGM,a private company, has been seeking a buyer for several years and owns a number of famed movie and TV franchises, including Rocky, Legally Blonde, The Pink Panther and Stargate.
It also owns a studio, which has made more current hit TV shows, including “The Handmaid’s Tale” and “Fargo” and popular reality TV shows such as “Shark Tank,” “Survivor,” “The Real Housewives” series and “The Voice.”
The talks between Amazon and had reportedly been on and off but there are expectations that the deal will be concluded in the coming weeks.
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