Amazon approaches deal to purchase MGM Studios for almost $9 billion

Amazon is approaching a deal to gain MGM Studios, the co-owner of the James Bond franchise and other film and TV series, for between $8.5 billion and $9 billion, as indicated by people familiar with the matter.

The deal is relied upon to be reported when Tuesday. Individuals asked not to be named in light of the fact that the discussions are private.

It would stamp Amazon’s greatest acquisition since it purchased Whole Foods in 2017 for $13.7 billion.

The Wall Street Journal detailed before Monday that the deal could be declared for this present week.

Amazon is keen on getting more TV and film content for its Prime Video service as it contends with Netflix, Disney and other streaming video services. MGM is a natural fit for any streaming service in light of its plenty of content.

MGM, which is a private company, has been looking for a purchaser for several years. Its proprietors incorporate Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments — funds that took control of the studio when it arose out of bankruptcy in 2010.

MGM possesses various celebrated film and TV franchises, including Rocky, Legally Blonde, The Pink Panther and Stargate. It likewise owns a studio, which has made more current hit TV shows, including “The Handmaid’s Tale” and “Fargo.”

MGM possesses various popular reality television shows, including “Shark Tank,” “Survivor,” “The Real Housewives” series and “The Voice.”

MGM additionally possesses Epix, a premium pay-TV service esteemed at about $1.3 billion in 2017.

MGM and Amazon delegates weren’t quickly accessible to comment.