According to Variety, Amazon whom has long been rumoured to get further stakes in Hollywood, is now reportedly close to taking over MGM Studios for $9 billion.
The sum of $9 billion which has reportedly warded off previous suitors such as Apple and Disney is being muted and would send a significant shockwave across the industry.
The studio whose notable properties include James Bond, Hobbit, and Rocky along with its historic back catalogue which analysts expecting the deal could even rise higher in cost.
With Amazon Prime holding over 200 million-plus members on the back of its delivery and streaming offerings, this would change the streaming game, and really become a blow for Netflix.
HBO Max is now looking to bolster its content thanks to the Discovery merger, which looks close to going through as we reported yesterday.
Disney Plus is already backed by Disney studios, so it seems as though Netflix will be the odd one out.
Amazon looking to buy MGM Studios for A LOT of money
This would be the third such merger we’ve seen in the past 5 years.
AT&T took over Time Warner for $86 billion back in 2018.
Disney took over 20th Century Fox in 2019.
With other TV properties such as The Handmaidens’ Tale coming under the MGM brand this would certainly add some quality content to the Prime offering.
It’s unknown what effect this may have on theatrical distribution, but you have to imagine if previous rumours of Amazon wanting to get further into the cinema game, by grabbing hold of a studio, that aim will be very much realized.
We’ll bring you more on this story as it comes, but we may expect a deal to be driven through, in the next 2 weeks.
With MGM being very open about looking for a sale, a deal seems likely.
What are your thoughts on the news?
Is this value for money?
Are we about to see the end of Netflix?
Let us know in the comments below.
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