Report: Amazon may be looking to buy longtime Hollywood film and TV studio MGM
The report cites a person familiar with ongoing discussions between the tech giant and the historic film and television studio, but says the status of any deal is unclear.
Amazon has already established itself as a significant entertainment force with content it creates and acquires through Amazon Studios and that it broadcasts via its Prime Video streaming service. Metro Goldwyn Mayer would bring with it a major film library, which includes the James Bond franchise, as well as television shows such as “The Handmaid’s Tale” and “Fargo,” and reality shows such as “Shark Tank” and “Survivor,” The Information said.
The report put the cost of a potential deal at between $7 billion and $10 billion.
Forbes reported earlier this year that Amazon was “kicking the tires” on what the magazine called a deal for the “faded Golden-Age studio.”
The Information noted that the potential news of an acquisition for the tech giant comes just days after it was reported that longtime exec Jeff Blackburn is returning to the company to lead a new “Global Media & Entertainment” organization that will include Prime Video and Amazon Studios, Music, Podcasts/Wondery, Audible, Games, and Twitch.
MGM and Amazon Web Services signed a cloud computing agreement in December to move the studio’s content and distribution efforts to the cloud and to help the studio develop “new business models” and “new revenue opportunities,” The Hollywood Reporter previously reported.