Amazon agrees to buy MGM film studio for $8 45 billion dallasnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dallasnews.com Daily Mail and Mail on Sunday newspapers.
Amazon is considering a bid of about $9 billion, said the person, who asked not to be identified because the deliberations are private. Discussions could still fall apart and details such as price may change, the person said. The Information and Variety previously reported on the talks.
An agreement would cap a rush of streaming deals that are set to make 2021 a record year for media takeovers. Reports about the discussions came on the day that AT&T Inc. announced its plan to create a new entertainment company by merging assets with Discovery Inc. in an entity that will be valued at about $130 billion including debt.
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James Bond brandishing his Walther PPK has been a common sight on British television for decades, but soon the world of terrestrial programming may not be enough.
The 26 films featuring the spy could shift to a subscription streaming service as part of a $9bn (£6.4bn) deal orchestrated by Amazon, sparking fears it will end a contract to air them on ITV.
Amazon said to be in talks to buy movie studio MGM for $9 billion
By Scott Deveau, Kelly Gilblom and Spencer Soper Bloomberg,Updated May 18, 2021, 7:02 p.m.
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MGM Studios in Beverly Hills, Calif.AaronP/Bauer-Griffin/GC Images/Photographer: AaronP/Bauer-Griff
Amazon is in talks to buy James Bond movie company Metro-Goldwyn-Mayer, according to a person familiar with the matter, potentially taking one of the last major independent film studios off the market.
Amazon is considering a bid of about $9 billion, said the person, who asked not to be identified because the deliberations are private. Discussions could still fall apart and details such as price may change, the person said. The Information and Variety previously reported on the talks.
Kelly Gilblom and Spencer Soper
May 18, 2021 â 2.21pm
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Amazon.com Inc is in discussions to acquire the nearly century-old Metro-Goldwyn-Mayer movie studio in what would be its biggest push into entertainment yet, according to news reports.
MGM, the storied Hollywood company behind the James Bond series, would help bolster Amazonâs Prime streaming service, the Information and Variety said in separate reports. Amazon is weeks into negotiations to buy the studio for about $US9 billion ($11.5 billion), according to Variety.
MGM and Amazon declined to comment on the report.
MGM is the home of the James Bond series, with Daniel Craig set to reprise the role in this yearâs No Time To Die.Â