Business Maverick: Amazon Deal to Acquire MGM to Come as Soon as Tuesday

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 84%

Business News News

Business Business Latest News,Business Business Headlines

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.

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.

its new James Bond film directly to streaming, people familiar with the matter said last year. The studio opted to stick with a theatrical release for the film, which debuts in the U.S. on Oct. 8.At roughly $9 billion, the MGM takeover would be Amazon’s biggest acquisition since itto buy Whole Foods in 2017 for $13.7 billion. But it’s not the first sign that the company is willing to spend big on media.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines