Amazon is about to buy MGM Studios for $ 9 billion

If the deal goes through, it would be Amazon’s largest acquisition since 2017, when it has taken Whole Foods for $13.7 billion.

Amazon is interested in getting as much content as possible for its Prime Video streaming service. Competition in this market is highly intense, with such giants as Netflix, Disney, and Apple (the latter came to the market recently but has already managed to attract much attention) as competitors. Against this background, the takeover of MGM Studios looks more than a logical step.

That Amazon is close to striking a deal with MGM, reported The Wall Street Journal. According to the publisher, the value could announce very shortly. According to the sources, the deal could amount to $ 8.5 to $ 9 billion. It would be Amazon’s most prominent takeover since 2017 when the company acquired Whole Foods for $13.7 billion. 

The media sources noted that MGM has been looking for a buyer for several years now. The studio’s owners include Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management, and Owl Creek Investments, which took control of the company when it completed bankruptcy proceedings in 2010.

MGM owns many popular film and television series, including “Rocky,” “Legally Blonde,” “Pink Panther” and “Stargate.” It also holds the rights to more recent popular TV shows, reality shows, and serials like “The Handmaid’s Tale” and “Fargo.” The studio is co-owner of the James Bond franchise. The list goes on.

Representatives of MGM and Amazon refrained from making any comments to reporters’ inquiries. 

Photo credit: depositphotos.com.

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