Daniel Craig as James Bond in “No Time to Die.” MGM
Amazon has been in negotiations to access MGM for about $9 billion, Variety appear on May 17.
Industry sources told Variety that the tech behemothic had been negotiating a accord for “weeks.” The Information aboriginal appear Monday that Amazon was in talks for a accord that could run $7 billion to $10 billion.
On Monday, The Wall Street Journal appear that the accord could be appear this week.
Mike Hopkins, the arch carnality admiral of Amazon Studios and Prime Video, is said to be orchestrating the accord anon with MGM’s lath chairman, Kevin Ulrich, according to the Variety report. Ulrich’s Anchorage Capital is a above MGM shareholder.
A auction of MGM to Amazon could arresting the tech company’s move to aggrandize its Amazon Prime alive account to accommodate MGM’s all-encompassing arrangement of big-name movies and TV shows. These accommodate the James Bond, Hobbit, Rocky, and Pink Panther franchises alongside “Legally Blonde” and “A Star Is Born.”
MGM additionally owns the alive account Epix.
The Wall Street Journal appear in December that MGM was exploring a sale. The aggregation had already started a academic auction process, and -to-be buyers had been cogent absorption aback aftermost spring, per The Journal’s report, which additionally cited bodies who said the aggregation had a bazaar amount of $5.5 billion.
Other companies accept additionally been in the active to access MGM, including ViacomCBS and Sony Pictures Entertainment.
Representatives from Amazon and MGM did not acknowledge to a appeal for comment.
Like the blow of the blur industry, MGM was hit by the coronavirus pandemic, and it had to advance aback the absolution of the abutting Bond installment, “No Time To Die.”
Story continues
Its acquirement alone 3% year-over-year to $1.5 billion in 2020, it said in its latest banking report. Its blur articulation was the affliction hit, with an 83% abatement in acquirement from affected releases, as cine theaters bankrupt or operated at lower capacity.
But the aggregation said it was adored by its abysmal catalog, which includes about 4,000 films and 17,000 TV episodes, and its arch operating officer, Christopher Brearton, said in the company’s third-quarter balance advertisement that 2021 could be its biggest-ever year for new content.
Amazon has been knuckling bottomward on advance in its media analysis as appeal for alive has boomed during the pandemic.
Last month, Amazon’s alive account surpassed 200 actor Prime associates common – 175 actor of whom streamed Prime Video agreeable in the accomplished year, according to Amazon CEO Jeff Bezos, who said alive hours were up added than 70% year-
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