Amazon eyes MGM in $9bn deal
May 18, 2021
Amazon is in talks to buy MGM Studios, one of the world’s oldest production studios, for $9 billion (€7.3bn).
A deal would see Amazon’s Prime Video streaming service gain access to a vast back catalogue of iconic content – including the James Bond franchise, the Rocky movies, The Hobbit trilogy and The Handmaid’s Tale TV series. In total, the MGM library is estimated to have 4,000 films and 17,000 hours of TV series.
The reports come on the heels of telecoms giant AT&T agreeing to combine its WarnerMedia unit with Discovery in a deal to create a new streaming entity.
MGM Holdings, the parent company of MGM Studios, is said to have been exploring a sale since the end of last year.