Monday, October 18

Tag: MGM Studios

Amazon nears deal to buy MGM Studios for nearly $9 billion
Business

Amazon nears deal to buy MGM Studios for nearly $9 billion

Amazon is nearing a deal to acquire MGM Studios, the co-owner of the James Bond franchise and other film and TV series, for between $8.5 billion and $9 billion, according to people familiar with the matter. The deal is expected to be announced as soon as Tuesday. The people asked not to be named because the talks are private. It would mark Amazon’s biggest acquisition since it bought Whole Foods in 2017 for $13.7 billion. The Wall Street Journal reported earlier Monday that the deal could be announced this week. Amazon is interested in acquiring more TV and film content for its Prime Video service as it competes with Netflix, Disney and other streaming video services. MGM is a natural fit for any streaming service because of its plethora of content. MGM, which is a priva...

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