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Amazon is said to have plans of acquiring MGM Studios or the Metro-Goldwyn-Mayer company. Jeff Bezos’ company is said to be already in talks for the acquisition deal of MGM Holdings.
Fox Business reported that this information came from someone familiar with the matter. This deal will be Amazon’s biggest step in its effort to expand in the entertainment business.
The assets that Amazon is bound to acquire with the deal
MGM Studios has a lot of assets and in its film library alone, there are the “Rocky” and “James Bond” and “The Wizard of Oz” movie franchises. It also has “Pink Panther” and owns the Epix cable channel where “The Handmaid’s Tale” series and reality shows like “Survivor” are airing.
What’s more, MGM has subsidiaries that include Orion Pictures, United Artists Releasing and American International Pictures.
Once Amazon buys the studio, it will surely be a big boost to the company’s film studio and streaming ventures. With what MGM Studios has, the firm will surely succeed in expanding its entertainment content as more popular movies and shows are coming to MGM.
At this time, there is no official word from Amazon or Metro-Goldwyn-Mayer yet but it was reported that that former is offering about $9 billion for the studio asset. It was also revealed that the talks have been ongoing for a few weeks now with Amazon Studios vice president, Mike Hopkins leading the talks with Kevin Ulrich, a board member and major shareholder at MGM.
MGM was looking for a buyer since last year
As per Variety, since December 2020, MGM Studios was already actively looking for a buyer after putting up the “for sale” sign on its doors. Now, Amazon is being seen as its potential new owner and the price could even go as high as $10 billion.
The price may appear to be too steep but for Amazon which is one of the world’s largest conglomerates, this is relatively a small price to pay for a major entertainment company that has a lot to offer. When it finally purchased MGM, it will also not be long when it is able to get back the investments as the studio has shows, movies and music titles that can be introduced to Amazon Prime as well that has over 200 million members worldwide.
