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Report: Amazon In Talks To Acquire MGM

Report: Amazon In Talks To Acquire MGM

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(CelebrityAccess) — Amazon is reportedly in negotiations to acquire MGM and its catalog of content in a deal worth $9 billion dollars.

According to Variety, Amazon and other major media distributors have been interested in acquiring MGM for some time but Amazon has reportedly moved beyond the interest phase into extended negotiations.

MGM revealed in December that they were seeking potential suitors for an acquisition with an eye towards realizing between $7 billion and $10 billion for the company, which would be in line with Amazon’s reported bid.

The potential sale comes against the backdrop of a growing scramble for content as viewers increasingly shift away from traditional television to on-demand streaming, including the merger between AT&T’s WarnerMedia content division and Discovery which was worth a reported $43bn.

MGM has an extensive library of movie and television IP, including titles such as James Bond, Silence of the Lambs, The Hobbit, Get Shorty, American Gladiators, Robocop, Survivor, Shark Tank, Fargo, and The Magnificent Seven, among thousands of others.

Reps for Amazon and MGM declined to comment to Variety on the potential sale.

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