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Friday, October 22, 2021

Amazon is in talks to buy MGM for $9 billion

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James Bond, The Handmaid’s Tale, Rocky, Stargate, Robocop, Legally Blonde, Vikings, a historic catalog of films dating back many decades, an array of production and distribution companies, and the content network Epix — these are the things that Amazon might own if it buys storied film giant MGM for billions of dollars in the very near future.

Amazon has reportedly offered $9 billion for the company, according to Variety, following a scoop from The Information earlier in the day that suggested a range of $7-10 billion for a potential deal, and Variety suggests that $9 billion was also the amount that MGM was reportedly hoping to get.

Between those factors, the fact that MGM has been up for sale since December 2020, and the sudden existence of a new media giant that will see AT&T spin off WarnerMedia and combine it with Discovery, it wouldn’t be very surprising if Amazon and MGM made a deal. The Information was slightly less bullish in its report today, though, writing that “The status of Amazon’s discussions with MGM is unclear and it’s possible no deal will result.”

In December, The Guardian reported that MGM has a library of 4,000 films and 17,000 hours of TV. James Bond in particular is one of the most valuable film franchises ever made — a list that’s only growing smaller as the Disney umbrella and Marvel Cinematic Universe swallow as many rivals as it can.

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