Amazon Gets Closer to Buying MGM Studios for Almost $9B

It looks like e-commerce giant Amazon may be getting closer to buying its very own media company.

According to sources, the company is close to a deal to buy MGM studios in the range of $8.5 billion to $9 billion. MGM Studios is the co-owner of the James Bond franchise as well as Rocky, Legally Blonde, The Pink Panther and Stargate. It also owns a studio, which has made more current hit TV shows, including “The Handmaid’s Tale” and “Fargo.”

MGM also owns a number of popular reality TV shows, including “Shark Tank,” “Survivor,” “The Real Housewives” series and “The Voice.”

Additionally MGM owns Epix, a premium pay-TV service valued at about $1.3 billion in 2017.

If the deal goes through, it would mark Amazon’s biggest acquisition since it bought Whole Foods back in 2017 for $13.7 billion.

Sources, who remain anonymous as the talks are private, have said an announcement on the deal could be announced as early as Tuesday.

The Wall Street Journal had also reported that the deal could be announced this week.

For several years MGM, a private company, had been looking for a buyer. Owners of the studio include Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments. The funds had taken control over the studio when it came out of bankruptcy in 2010.

MGM and Amazon representatives weren’t immediately available to comment.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.