Amazon in talks to buy MGM for $9 billion

 

Amazon is in talks to buy film giant MGM (Metro Goldwyn Mayer). If these talks do pan out, Amazon could come to own a historic catalogue of films dating back many decades; along with an array of production and distribution companies; and content network Epix. The company has reportedly offered $9 billion for MGM.

Reports suggest earlier that a range of $7 billion to $10 billion was being considered for a potential deal. It is believed that $9 billion is the amount that MGM is hoping to get.

Metro Goldwyn Mayer has been up for sale since December 2020; and given the “jealousy that comes with the sudden impending existence of a new media giant” as AT&T combines WarnerMedia with Discovery, “it wouldn’t be very surprising if Amazon and MGM made a deal”.

However, while things look hopeful, there are some who are of the opinion that the discussions between Amazon and MGM are unclear; and it is possible that no deal might come through.

It has been stated that MGM has a library of 4,000 films and 17,000 hours of TV. Amongst all this content, the James Bond franchise is the most valuable of all. But with Disney and the Marvel Cinematic Universe (MCU) growing larger by the day, MGM’s list of valuable franchises keeps getting smaller. When MGM was put up for sale at the end of last year, there was a $5 billion price tag on it.