Amazon approaches contract to buy MGM Studios for nearly $9 billion

Amazon is approaching a contract to purchase MGM Studios for nearly $ 9 billion

Business News: Amazon approaches contract to buy MGM Studios for nearly $9 billion.

Amazon is reportedly close to acquiring Hollywood studio MGM. The deal, which is expected to close as early as this week, is set at nearly $ 9 billion, the Wall Street Journal reported Monday, citing people familiar with the matter.

Last week, The New York Times reported that, if the MGM acquisition talks were successful, the deal would boost Amazon’s streaming ambitions by bringing James Bond, Rocky, RoboCop and other film and television properties into. hands of the e-commerce giant.

MGM, which is a private company, has been looking for a buyer for several years. Its owners include Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments – funds that took over the firm when it emerged from bankruptcy in 2010.

MGM owns a number of popular film and television franchises, including Rocky, Legally Blonde, The Pink Panther, and Stargate. He also owns a studio, which has made more current hit TV shows, including “The Handmaid’s Tale” and “Fargo”.

MGM owns a number of popular reality TV series, including “Shark Tank”, “Survivor”, “The Real Housewives” and “The Voice”. MGM also owns Epix, a premium pay-TV service worth around $ 1.3 billion in 2017.