Amazon Working On Deal To Purchase Hollywood Studio MGM


Jeff Bezos’ Amazon is getting close to a deal to buy MGM, the Hollywood studio behind hits like the James Bond and Rocky series and “The Handmaid’s Tale,” for $9 billion, according to a new report.

Citing anonymous sources, the Wall Street Journal said the Silicon Valley/Hollywood pact could be announced “as early as this week.”

The news comes after several outlets reported last week that the e-commerce giant was in talks to buy the legendary studio, whose film and TV catalog includes both classic films like “The Silence of the Lambs” and popular TV shows like “Shark Tank,” for between $7 billion and $10 billion.

If the deal goes through, it will mark Amazon’s second-largest acquisition in its history behind its 2017 deal to acquire Whole Foods for $13.7 billion. The deal will also give the Seattle-based company, which runs streaming service Prime Video and the movie studio Amazon Studios, more gravitas in Hollywood as it competes against the likes of Netflix and Disney+.

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