Amazon reportedly in talks to buy MGM movie studio for $9bn

MGM Holdings has reportedly been exploring a sale since the end of last year

MGM roaring lion logo                                 

Amazon is said to be in talks to buy the iconic MGM Studios for $9bn (£6.35bn).

According to media reports, the status of Amazon’s discussions with MGM is unclear and no deal is guaranteed.

The reports come after news that telecoms giant AT&T is to merge Warner Bros Entertainment, which owns the Harry Potter and Batman franchises, with Discovery’s home, cooking, nature and science shows, in a deal creating a new streaming giant.

MGM Holdings, the parent company of MGM Studios, has reportedly been exploring a sale since the end of last year.

Potential Prime content 

The purchase by Amazon of MGM Studios would be a major step for its Prime streaming service, giving access to a vast back-catalogue of famous content.

The movie studio behind the James Bond franchise also makes TV shows, including popular series such as The Handmaid's Tale, Fargo, Vikings and Shark Tank.

It is also home to some of the biggest movies of all time, including Ben-Hur and The Wizard of Oz.

Top executive returns at Amazon

Last week Amazon announced the return of Jeff Blackburn, a former top executive who left the company recently after two decades.

Blackburn was reported to be returning to run a new Global Media and Entertainment division at Amazon.

His oversight will include Prime Video and Amazon Studios, Amazon Music, Wondery and podcasts, Audible, games and Twitch.

Further reading: Amazon to hire 10,000 more UK workers in boost to economy

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