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Amazon likely to buy MGM Studios for $9 Billion

As per Variety, Mike Hopkins, senior VP ofAmazon Studiosand Prime Video is in talks with MGM board chairman Kevin Ulrich to seal the deal for$9 billion.

twitter-logoAnkita Chakravarti | May 18, 2021 | Updated 16:24 IST

Highlights

  • Tech giant Amazon could become the new heir of iconic US movie studio MGM.
  • As per reports, the company is in talks to seal the deal for about $9 billion (roughly Rs. 65,770 crores).
  • MGM was looking for a buyer earlier in December.

Tech giant Amazon could become the new heir of iconic US movie studio MGM. As per reports, the company is in talks to seal the deal for about $9 billion (roughly Rs. 65,770 crores). The status of the deal is not clear at this moment. It has been reported that many companies apart from Amazon have been trying to acquire the popular US studio.

As per Variety, Mike Hopkins, senior VP of Amazon Studios and Prime Video is in talks with MGM board chairman Kevin Ulrich to seal the deal for $9 billion. Earlier in December, Variety reported that the MGM was looking for a buyer.

Popular films like James Bond, Hobbit,Pink Panther franchises, The Silence of the Lambs, Deep in a Heart, It's Always Fair Weather , and Invitation to the Dance ,The Band Wagon, Mutiny on the Bounty, A Space Odyssey, Stargate SG-1, Stargate Atlantis, Stargate Universe, Vikings, Fargo, The Handmaid's Tale,Get Shorty,Condor,Fame,American Gladiators,Teen Wolf among others were produced by MGM Studios. The MGM has a library of 4000 films and 17,000 hours of TV. The Information also reported that there are chances of the deal not materialising but if it does it would be a major boost for Amazon's streaming platform.


On a related note, Amazon had launched a new streaming platform in India, which is a free video service. The company has launched miniTV cashing on the popularity of Prime, which comes with a price. Unlike Prime, there is no standalone app for miniTV, it is available within the Amazon shopping app.

"miniTV has professionally created and curated content across web-series, comedy shows, tech news, food, beauty, fashion and more. The list includes leading studios such as - TVF, Pocket Aces and leading comedians - Ashish Chanchlani, Amit Bhadana, Round2Hell, Harsh Beniwal, Shruti Arjun Anand, Elvish Yadav, Prajakta Koli, Swagger Sharma, Aakash Gupta and Nishant Tanwar. Viewers will be informed on latest products and trends by tech expert Trakin Tech, fashion and beauty experts such as Sejal Kumar, Malvika Sitlani, Jovita George, Prerna Chhabra and ShivShakti. Food lovers can enjoy content from Kabita's Kitchen, Cook with Nisha, and Gobble. In the coming months, miniTV will add many more new and exclusive videos," the Amazon blog said.

The Amazon MiniTv is only available for Android users for now. The company said that it plans to expand to the iOS app and mobile web over the coming months.

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