Amazon Wants to Buy MGM for Its 4,000-Film Library

Amazon Wants to Buy MGM for Its 4,000-Film Library
Amazon is looking to grow an even bigger presence in Hollywood. The tech giant is reportedly weeks into negotiations to acquire MGM for around $9 billion, according to multiple reports.

MGM weighing acquisition comes as no surprise. Word broke in the fall that the studio was preparing for a sale, and came after months of rumors and speculation that Apple could make a bid as it pours billions into its fledgling streaming service.

But it turns out its another tech player could win MGM. The Information first reported the MGM-Amazon negotiations.

This comes on the same day that AT&T announced it would merge Warner Media with Discovery and spin off the new company in a $43 billion deal that bring together the likes of CNN, HBO, Warner Bros., HGTV, OWN Network, and Animal Planet.

MGM has changed hands numerous times over its nearly century-long history. Its current iteration is a far cry
See full article at Indiewire »

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