Amazon is close to buying MGM Studios for about $9 billion. MGM Studios co-owns the famous James Bond franchise as well as other well-celebrated films and TV series.
The Amazon-MGM Studios deal is expected to be announced on Tuesday according to sources that didn’t want to be named. When this deal pulls through, it would be Amazon’s biggest acquisition since acquiring Whole Foods for $13.7 billion in 2017. The Wall Street Journal, in a report on Monday, reported that the Amazon-MGM Studios deal could be announced this week.
Amazon is a multinational and multi-billion dollar company founded in 1994. The American technology company is one of the five largest in the information technology industry and focuses on products and services related to cloud computing, e-commerce, artificial intelligence and digital streaming. Amazon Prime Video is the company’s streaming video service. The company seeks to acquire more TV and film content as it stands against top contenders like Disney and Netflix, and naturally MGM Studios is a great option because of both its reputation and the endless amount of content it has.
For years now, MGM Studios has been looking to sell. The private company is owned by Owl Creek Investments, Solus Alternative Asset Management, Highland Capital Partners, Anchorage Capital and Kempner Capital Management. These companies took over the MGM Studios after it went bankrupt in 2010.
MGM Studios has impressive works under its belt. The company owns famous TV and movie franchises like Legally Blonde, Stargate, The Pink Panther and Rocky. The company also has hit TV shows like Fargo and The Handmaid’s Tale to its name. MGM Studios also owns reality TV shows like Survivor, Shark Tank, The Voice and The Real Housewives.
Epix, a premium pay-TV service which was valued at $1.3 billion in 2017 is also owned by MGM Studios.
No comment has been made so far by Amazon or MGM Studios but a deal is expected to be announced soon.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
