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

Amazon may win the rights to the James Bond franchise if it acquires MGM.

By Gadgets 360 Staff With Inputs From Reuters | Updated: 18 May 2021 12:04 IST

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

Photo Credit: Bloomberg

MGM, the movie studio behind James Bond franchise, also owns the Epix cable channel and makes TV shows

Highlights

Amazon and MGM both declined to comment on the development
Apple reportedly held talks with MGM in December 2019
The Information was the first to bring word of the acquisition talks

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 familiar 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 declined to comment on the development. 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 (roughly Rs. 36,530 crores). The Information was the first to bring word of the acquisition talks.

Amazon miniTV In-App Video Streaming Platform Launched in India

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.

The Best Movies on Amazon Prime Video

What is the best phone under Rs. 30,000 in India right now? We discussed this on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.