Business News

Amazon in negotiations to buy MGM for $ 9bn

Amazon is planning to acquire MGM, a studio behind James Bond, for about $ 9bn, according to people familiar with the matter.

Following the merger, MGM is one of the few Hollywood studios that has not been tested by a major conference, Warner Bros. operates within AT&T; Fox under Disney; Natural within Comcast; and Paramount within ViacomCBS.

The deal was changed Monday with the inclusion of Access by WarnerMedia, while traditional media groups compete to do more to compete with companies that specialize in an exciting internet-controlled business streaming.

Like other video studios, MGM has been severely affected by the coronavirus. As the videos remained blank in the US and Europe last year, MGM changed its approach to releasing a blockbuster Bond video No Time to Die four times.

After the video was stopped and Covid-19 began to crash, Netflix approached MGM to find No Time to Die to be released, but the price the studio wanted was too high, say people familiar with the matter. It is scheduled to release videos on September 30 in the UK and October 8 in the US.

MGM has a comprehensive library of animations and animations, inclusive Fargo, The Story of the Servant with the permission of Hobbit and Bond.

The main shareholder of MGM is the hedge fund Anchorage Capital, which started buying studio credit in 2010 as part of bankruptcy due to the financial crisis. MGM recorded $ 29m at $ 403m in the first quarter.

Amazon declined to comment. MGM did not respond to a request for comment.

The ecommerce giant is in the midst of reviving its entertainment plans, last week telling employees that Jeff Blackburn, Jeff Bezos’s former chief executive, has returned to the company to run “Global Media & Entertainment”. The device includes a wide range of Amazon entertainment, from Prime Video service to Twitch.

Last year, Amazon spent $ 11bn on producing, acquiring or licensing music and movies for Prime subscribers, starting at $ 7.8bn in 2019. The company was also busy acquiring live streaming rights, including a deal with the NFL, worth about $ 1bn a year, broadcasting Thursday Night Ball.

In a recent letter to shareholders, Bezos announced that Amazon had outstripped 200m Prime members.

This announcement was first made in an interview with Amazon and MGM.

Source link

Related Articles

Leave a Reply

Back to top button