Amazon is Close to Deal to Buy MGM Studios For $9 Billion


The retail giant Amazon is reportedly close to a deal to acquire the Hollywood – MGM Studios. The value of the deal is expected to be between $8.5 billion and $9 billion, according to people known with the matter.

It would mark the biggest acquisition since it bought Whole Foods in 2017 for $13.7 billion, as the deal is set to announce this week.

Amazon is looking interested in buying more TV and film content for its Prime Video as it is in competition with Disney, Netflix, and other streaming video services.

A private company, MGM has been seeking a buyer for months. Companies like Apple and Comcast previously decided it was worth roughly $6 billion.

MGM owners include Kempner Capital Management, Anchorage Capital, Solus Alternative Asset Management, Highland Capital Partners, Davidson, and Owl Creek Investments — funds that took the control of the company when it emerged from bankruptcy in 2010.

The company owns several famed movie and TV franchises, including The Pink Panther, Rocky, Legally Blonde, and Stargate. The firm also owns a studio, which made more current hit TV shows, including “The Handmaid’s Tale” and “Fargo.” It also owns popular reality TV shows, including “Shark Tank,” “Survivor,” “The Real Housewives” series, and “The Voice.”

MGM owns Epix, a premium pay-TV service $1.3 billion valued in 2017.

The official announcement could come out as soon as Tuesday, according to sources.