Amazon plans to acquire Metro-Goldwyn-Mayer for $9 billion. MGM has 4,000 films in its lineup, including the James Bond franchise. With an acquisition, Amazon could expand its Prime Video service.
Sources familiar with the takeover talks tell Variety and The New York Times that Amazon and MGM have been in talks for weeks. MGM has been looking for a buyer for months, and Apple and Comcast are said to have previously expressed an interest, but are willing to pay about $6 billion.
With the acquisition of MGM, Amazon could significantly expand its Prime Video streaming service. The film company owns fifty percent of the James Bond rights and has all the films of that franchise in its range. The film company also owns the Tomb Raider films, Rocky and RoboCop.
According to Variety, Amazon wants to make an offer of about $9 billion. That matches MGM’s asking price. Spokespersons for Amazon and MGM declined to comment on the report. MGM is currently largely owned by an American investment company.