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Friday, July 23, 2021

Amazon May Acquire Film Giant MGM For $9B: Report

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Amazon is reportedly in talks to acquire movie giant MGM for $9 billion, at a time when the world’s largest telecommunication company AT&T has announced to merge WarnerMedia with Discovery to create a new media giant that will compete with leading streaming players like Netflix.

While The Information reported Amazon is in discussions to acquire MGM Holdings between $7 billion to $10 billion, Variety said in its report on Monday that $9 billion is the amount MGM was hoping to zero in.

MGM owns a major film library, with interests in the long running James Bond franchise as well as other well-known titles such as Rocky and Pink Panther.

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“It also owns the Epix cable channel and makes TV shows, including The Handmaid’s Tale and Fargo and reality shows such as Shark Tank and Survivor,” the report mentioned.

The Guardian earlier reported that MGM has a library of 4,000 films and 17,000 hours of TV.

MGM has been up for sale since December 2020.

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Lena Berryhttps://otcbbstocknews.com
Lena Berry is the executive editor of OTC BB Stock News. Apart from managing the large team of writers, you will find her writing about various topics.
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