MGM acquisition talks come up again, this time Amazon is the suitor

The industry is abuzz with reports of e-commerce major Amazon reportedly in discussions to acquire Hollywood movie studio MGM. According to media reports, the deal is valued at $9 billion. So far, there has been no confirmation of this new by either Amazon or MGM.

Should this acquisition fructify, it will bring into Amazon’s fold blockbuster Hollywood franchises such as James Bond, the Rocky movies, etc. MGM also has immensely popular television properties such as ‘The Handmaid’s Tale’, ‘Vikings’, ‘Fargo’ and ‘Shark Tank’, among others.

This is not the first time that MGM’s acquisition news has surfaced. Earlier, Apple was said to be in talks with MGM in 2019 in a bid to boost its Apple TV streaming service. However, no further move has been made in that direction.

The announcement regarding AT&T Inc and Discovery Inc agreeing to combine WarnerMedia’s premium entertainment, sports and news assets with Discovery’s leading non-fiction and international entertainment and sports businesses to create a premier, standalone global entertainment company, has sent ripples down the entertainment industry. WarnerMedia and Discovery will form one of the largest global streaming players.

Globally, the streaming space has become extremely competitive with newer players like Disney+, HBO Max, Apple TV expanding their footprint in a market that has been dominated by Netflix and Amazon Prime Video.

It will be interesting to see what will be the outcome of the reported talks between Amazon and MGM.