Amazon nears deal to purchase MGM Studios for practically $9 billion
Amazon is nearing a deal to accumulate MGM Studios, the co-owner of the “James Bond” franchise and different TV and movie sequence, for between $8.5 billion and $9 billion, in response to individuals conversant in the matter. The deal is predicted to be introduced as quickly as Tuesday.
The Wall Avenue Journal reported earlier Monday that the deal may very well be introduced this week.
A deal may very well be introduced this week, stated the particular person, who requested to not be named as a result of the talks are personal. It could mark Amazon’s largest acquisition because it purchased Entire Meals in 2017 for $13.7 billion.
Amazon is thinking about buying extra TV and movie content material for its Prime Video service because it competes with Netflix, Disney and different streaming video providers. MGM is a pure match for any streaming service due to its plethora of content material.
MGM, which is a non-public firm, has been in search of a purchaser for a number of years. Its house owners embody Anchorage Capital, Highland Capital Companions, Davidson, Kempner Capital Administration, Solus Different Asset Administration and Owl Creek Investments — funds that took management of the studio when it emerged from chapter in 2010.
MGM owns quite a few famed film and TV franchises, together with “Rocky,” “Legally Blonde,” “The Pink Panther,” and “Stargate.” It additionally owns a studio, which has made extra present TV hits together with “The Handmaind’s Story” and “Fargo.”
MGM additionally owns quite a few in style actuality TV reveals, together with “Shark Tank,” “Survivor,” “The Actual Housewives” sequence and “The Voice.”
MGM additionally owns Epix, a premium pay-TV service valued at about $1.3 billion in 2017.
MGM and Amazon representatives weren’t instantly out there to remark.
Nasdaq records first seven week losing streak since 2002
Trading updates are shown on monitors on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New…
This Side Gig Pays $22 for 15 Minute Tasks, and You Can do It Full-Time
Fake reviews can attract more business short-term, but it’s the real feedback that helps companies improve their customer service. Businesses…