Amazon Deal to Acquire MGM to Come as Soon as Today

(Bloomberg) — Amazon.com Inc. is poised to announce an acquisition of the Metro-Goldwyn-Mayer movie studio as soon as Tuesday, according to a person familiar with the matter, marking the e-commerce giant’s biggest push yet into Hollywood.

Amazon is in talks to pay almost $9 billion for the business, said the person, who asked not to be identified because the deliberations are private. The discussions — first reported last week — could still fall apart, and it’s possible that the price or timing changes.

The agreement would bring a vast library of movies and shows to Amazon, which operates the Prime Video streaming service. MGM’s catalog includes the James Bond, Pink Panther, RoboCop and Rocky franchises, as well as films such as “The Silence of the Lambs.”

MGM, currently owned by hedge funds including Anchorage Capital Group, has been seen as a takeover target for years, but was never able to close a sale before. The company made a fresh push last year, when it reportedly hired advisers to seek offers. Click here to read the source article MGM

Epix is owned by MGM, so what will Amazon do with it after the acquisition?

*Click on the “Full Loaf” icon to read the full article! After you read the article come back and tell us your thoughts.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Today's Dough