Amazon is in negotiations to buy the biggest movie studio MGM for the worth of $9 billion, reported by Variety.
It seems like Amazon’s Prime streaming service will have almost century-old Metro-Goldwyn-Mayer movie studio MGM. According to Variety, Amazon is striving for “weeks into negotiations” to own MGM due to its deep library of content. Reportedly, MGM was looking for a sale before Christmas. As per the December report, MGM’s market value was about $5.5 billion. Amazon proposed a high price tag for the purchase.
MGM will add more James Bond blockbusters including the forthcoming movie No Time to Die. MGM’s catalog contains 4,000 movies including Rocky, The Hobbit, RoboCop, The Silence of the Lambs, Pink Panther franchises and Four Weddings, and a Funeral with 17,000 hours of TV. MGM also has shows that include Fargo, Stargate, The Handmaid’s Tale, Survivor, The Voice, The Real Housewives of Beverly Hills Shark Tank, and the cable network Epix.
The iconic US movie studio MGM AKA Metro-Goldwyn-Mayer was founded in 1924. It gained more popularity over the years with movies like Ben Hur and Singin’ in the Rain, The Wizard of Oz, and more. However, Amazon has introduced a new streaming platform in India.
Amazon hasn’t made any official statement regarding this huge purchase. Both Amazon and MGM haven’t made any comments on the reports.