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Amazon may buy film giant MGM for $ 9 billion
Amazon may buy film giant MGM for $ 9 billion
If the talks work out, Amazon could have a historical catalogue of movies dating back many decades. The company has reportedly offered $ 9 billion for MGM, Variety reported.
Amazon is reportedly in talks to buy the movie giant MGM (Metro Goldwyn Mayer). If these conversations go through, Amazon could own a historical catalogue of movies dating back many decades along with several production and distribution companies and the Epix content network. The company has reportedly offered $ 9 billion for MGM, Variety reported.
"It also owns the Epix cable channel and makes TV shows, including The Handmaid's Tale and Fargo and reality shows such as Shark Tank and Survivor," the report mentioned.
Information previously suggested that a range of $ 7 billion to $ 10 billion was considered a possible deal. However, Variety has reported that $ 9 billion is the amount MGM hopes to raise.
MGM has been on the market since December 2020, and given the "jealousy that comes with the sudden impending existence of a new media giant" as AT&T combines WarnerMedia with Discovery, as The Verge points out, "it wouldn't be shocking if Amazon and MGM made a deal".
However, while things look hopeful, The Information believes the discussions between Amazon and MGM are unclear, and an agreement may not be through.
The Guardian reported in December that MGM has a library of 4,000 movies and 17,000 hours of television. Among all this content, the James Bond franchise is the most valuable of all. But with Disney and the Marvel Cinematic Universe (MCU) growing by the day, MGM's list of worthy franchises continues to shrink. When MGM went on sale late last year, it was priced at $ 5 billion.
