Amazon in discussions to purchase MGM for a reported $9B
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| Source: The Information
- MGM has been apparently looking for a buyer since December 2020
According to The Information and Variety, Amazon is in talks to acquire MGM for $9, billion making it the seventh largest acquisition of a media company.
MGM has a wide range of films (4,000+) and TV shows (17,000+) in its library that includes:
- The James Bond series
- Rocky
- Pink Panther
- Fargo
- Vikings
- The Handmaid’s Tale
- Shark Tank
- The Voice
Amazon reported that it spent $11 billion combined on all its movie, TV and music content. And while it is still a small part of it’s overall business it is a segment that is growing rapidly for the company. In a letter to shareholders this week, Jeff Bezos announced there are currently over 200 million Prime subscribers worldwide, up from 150 million just over a year ago in January 2020.
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