Amazon In Negotiations to Buy MGM In Mega Deal

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https://www.hollywoodreporter.com/bu...mpression=true

MGM Holdings, whose storied studio boasts one of the largest Hollywood film and TV libraries including the iconic James Bond franchise, is in negotiations to be acquired by Amazon, according to a May 24 Wall Street Journal report, citing unnamed sources. The newspaper says a deal figure could be “almost $9 billion” and talks are advanced enough that a deal could be unveiled “as early as this week.”

It has long been rumored that the tech giant was a top contender for the studio, which emerged from bankruptcy in 2010. (Apple had also been seen as a potential buyer while sources tell THR that NBCUniversal was also in the mix.) MGM’s top shareholder is Anchorage Capital, run by former Goldman Sachs exec Kevin Ulrich, who leads the studio’s board of directors and is said to be spearheading the deal. In December 2020, it was reported that MGM had enlisted Morgan Stanley and LionTree LLC to advise on a sale.