Amazon’s Jeff Bezos All Set to Buy MGM Studios
Amazon is offering about $9 billion for the asset and the talks have been going on for a week now
The founder and CEO of Amazon Jeff Bezos is said to have plans to acquire Metro-Goldwyn-Mayer (MGM) company.
As per reports, the deal will be the biggest step in Amazon’s effort to expand its entertainment business.
Mike Hopkins, Senior Vice President of Amazon Studios and Prime Video, signed the agreement with MGM Board Chairman Kevin Ulrich.
However, both parties declined to comment on the matter.
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As the word goes, Amazon is offering about $9 billion for the asset and the talks have been going on for a week now.
As per Variety, since December 2020, MGM Studios was already actively looking for a buyer after putting up the “for sale” sign on its doors.
MGM, the owner of the James Bond franchise, has subsidiaries that include Orion Pictures, United Artists Releasing, and American International Pictures.
MGM was formed in 1924 when Marcus Loew gained control of Metro Pictures and reached its peak in the 1930s and 40s.
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