Amazon Buys MGM for a whopping $8.45 Billion

Again I’m back with the latest news. Amazon is reportedly in talks to buy MGM (Metro-Goldwyn-Mayer), which would give it ownership over 4,000 film titles including the James Bond Franchise as well. According to Variety, Amazon has offered $9 billion to the company and probably this was the amount that MGM was hoping to get.

Till now, Amazon and MGM have not commented on this news. Due to the ongoing pressure of pandemic, MGM had earlier announced its interest in selling its entire film catalog in December 2020 and the envy that comes with the sudden approaching existence of a new media giant earlier today as AT&T spinoff Warner media and combines it with Discovery. Then that’s going to be quite surprised if the deal would be made.

When Warner Bros. announced in December 2020 that it had planned to release its entire 2021 slate of films on HBO Max and in theatres as well then Metro-Goldwyn-Mayer Studios’ financial condition became more distressing. Formerly, Apple and Netflix were considering acquiring MGM, as per reports from Bloomberg. But, no statement has been issued by any of the companies about this buyout till now.

MGM Studios

According to the reports by The Guardian, the MGM has a library of 4,000 films and 17,000 hours of TV, with interests in the long-running James Bond Franchise and other well-known titles such as Rocky and Pink Panther.

This is going to be very surprised if this deal happens. But still, nothing is confirmed, no statement has been made officially. So, with that stay tuned for further updates.

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