Wednesday, June 16, 2021

Amazon Reportedly Planning On Buying MGM For US$9 Billion

Amazon is supposedly mulling on buying out US studio Metro-Goldwyn-Mayer, otherwise more commonly known as MGM. According to reports by Variety and The Information, the multinational brand is reportedly willing to fork out US$9 billion (~RM37.1 billion) in order to acquire the film studio.

As a quick primer, MGM is said to have been put up on the market since December last year; a decision that supposedly came to be after it was recently announced that AT&T would merge its WarnerMedia with Discovery. In order to better compete against streaming services like Disney+ and Netflix.

MGM is the owner of several popular film franchises, including James Bond, Robocop, Stargate, And Vikings, to name a few. On top of that, the studio also has a vast catalogue of thousands of films and nearly 20000 hours of TV shows.

At the time of writing, there’s still no indication whether MGM will take the deal or let it fall through. Of course, it goes without saying that, should they accept it, the deal would swing very much into Amazon’s favour. Gaining access to MGM’s treasure trove of shows would clearly help Amazon to fatten up its anaemic Prime Video service.

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