Amazon is seeking to acquire MGM which will be valued between $7 billion and $10 billion, says The Information, mentioning someone acquainted with the situation.
MGM, recognized for its iconic emblem of a roaring lion, owns the James Bond franchise, titles like Rocky and Pink Panther, in addition to the Epix cable channel. The company additionally co-produces The Handmaid’s Tale and famous truth indicates like Shark Tank and Survivor.
Amazon has been scouting a massive amusement buy for years in keeping with numerous sources. In 2018, Amazon become interested in shopping for Landmark Theaters, in keeping with Bloomberg. Last yr, the tech large become looking to buy AMC Theaters.
However, sources factor out that buying a studio could be greater useful than a theater chain for Amazon as they could permit the studio’s TV indicates and movies to roll out on Amazon Prime Video.
The reviews of the viable buy come because the streaming panorama is heating up. On Monday, AT&T announced it might spin off WarnerMedia to be mixed with Discovery, and Netflix is making an investment billions greater into its very own library of films and indicates.
Amazon additionally stated an increase in its modern profits report: Prime Video now has over two hundred million paid subscribers and streaming hours had been up greater than 70% considering that a yr ago.
Amazon did now no longer reply to requests for remark and MGM couldn’t be reached, in keeping with CNN.
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