The Wall Street Journal reported earlier Monday that the deal could be announced this week.
A deal could be announced this week, said the person, who asked not to be named because the talks are private. This would mark Amazon’s biggest acquisition since it bought Whole Foods in 2017 for $ 13.7 billion.
Amazon is keen to acquire more TV and movie content for its Prime Video service as it competes with Netflix, Disney and other video streaming services. MGM is a natural choice for any streaming service due to its plethora of content.
MGM, which is a private company, has been looking for a buyer for several years. Its owners include Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments – funds that took control of the studio when it emerged from bankruptcy in 2010.
MGM owns a number of famous film and television franchises, including “Rocky”, “Legally Blonde”, “The Pink Panther” and “Stargate”. He also owns a studio, which has produced more current TV hits including “The Handmaind’s Tale” and “Fargo”.
MGM also owns a number of popular reality TV shows including “Shark Tank”, “Survivor”, “The Real Housewives” and “The Voice”.
MGM also owns Epix, a premium pay-TV service valued at around $ 1.3 billion in 2017.
Representatives from MGM and Amazon were not immediately available for comment.