Amazon May Acquire Film Giant MGM for a Whopping $9B

Amazon is reportedly in talks to acquire movie giant MGM for $9 billion, at a time when the world’s largest telecommunication company AT&T has announced to merge WarnerMedia with Discovery to create a new media giant that will compete with leading streaming players like Netflix.

While the Information reported Amazon is in discussions to acquire MGM Holdings between $7 billion to $10 billion, Variety said in its report on Monday that $9 billion is the amount the company was hoping to zero in.

MGM owns a major film library, with interests in the long-running James Bond franchise as well as other well-known titles such as Rocky and Pink Panther.

Amazon / MGM

“It also owns the Epix cable channel and makes TV shows, including The Handmaid’s Tale and Fargo and reality shows such as Shark Tank and Survivor,” the report mentioned.

The Guardian earlier reported that the company has a library of 4,000 films and 17,000 hours of TV.

MGM has been up for sale since December 2020.

The Amazon and MGM merger news came as AT&T and Discovery on Monday announced a definitive agreement to combine WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading non-fiction and international entertainment and sports businesses to create a premier, standalone global entertainment company.

Under the terms of the agreement, AT&T would receive $43 billion (subject to adjustment) in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt.

Read LeisureByte’s other entertainment articles here.

Leave a Reply


Shah Rukh Khan In Quarantine After Pathan Crew Members Test COVID-19 Positive?

Shah Rukh Khan has reportedly quarantined himself after Pathan crew members test COVID-19 positive. Read on.

Netflix’s Julie and The Phantoms Review: Has that Magical Disney Feel to It!

Straight out of a Disney TV show, 'Julie and The Phantoms' is a fresh breath of air and a break from all the sex and skin show that teenage dramas show today!

‘Mucho Mucho Amor’ Review: A Documentary on The Life of Walter Mercado

'Mucho Mucho Amor' is a documentary on the life of Walter Mercado, focussing around the life of him and how he retreated away from fame.

MasterChef Australia Season 13 Episode 10 Review: Restaurant Dish Or Say Goodbye!

MasterChef Australia Season 13 Episode 10 review: Here's everything that happened in the elimination challenge.

Netflix’s Hello Me Episode 5 Recap: One Roof

Hello Me episode 5 is all over the place and, unfortunately, fails to leave us laughing.

Loading Next Article