Amazon is reportedly in talks to acquire MGM
Amazon, looking to bring more television and film properties to its streaming service, is in talks to buy Metro-Goldwyn-Mayer Studios, three people familiar with the matter told the Los Angeles Times.
MGM brings to the table the James Bond and Rocky franchises, as well as popular television shows like The Voice and The Handmaid's Tale. The studio has been up for sale since as early as December, the Times reports, and the price being discussed is between $7 billion and $9 billion.
Amazon is eager to stay on equal footing with streaming giants Netflix and Disney+, and MGM has 4,000 movies that would be added to its library. Earlier Monday, AT&T announced it plans to spin off WarnerMedia and merge it with Discovery to form a new company better suited to compete against Netflix and Disney+.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
The Week Unwrapped: Should we talk to the voices in our heads?
Podcast Plus Macron charms Morocco, and do Americans really work harder than the rest of us?
By The Week Staff Published
-
The week's best photos
In Pictures A spooky donation, a shirt-shredding rally, and more
By Anahi Valenzuela, The Week US Published
-
Vanessa Bell: A World of Form and Colour – an 'expansive' exhibition
The Week Recommends The 'sweeping' show features over 140 works from paintings to ceramics
By The Week UK Published
-
OJ Simpson, star athlete tried for murder, dead at 76
Speed Read The former football hero and murder suspect lost his battle with cancer
By Rafi Schwartz, The Week US Published
-
Momofuku's 'Chili Crunch' trademark uproar
Speed Read The company's attempt to own the sole rights has prompted backlash
By Rafi Schwartz, The Week US Published
-
Kevin Hart awarded Mark Twain Prize
Speed Read He is the 25th recipient of the prestigious comedy prize
By Peter Weber, The Week US Published
-
Is Downton Abbey set to return for a final film?
Speed Read Imelda Staunton reveals that a third movie may be in the pipeline
By Adrienne Wyper, The Week UK Published
-
'Oppenheimer' sweeps Oscars with 7 wins
speed read The film won best picture, best director (Christopher Nolan) and best actor (Cillian Murphy)
By Peter Weber, The Week US Published
-
'Rust' armorer convicted of manslaughter
speed read The film's cinematographer Halyna Hutchins was shot and killed by actor Alec Baldwin during rehearsal
By Peter Weber, The Week US Published
-
The Beatles are getting 4 intersecting biopics
Speed Read Director Sam Mendes is making four separate movies, each told from the perspective of one band member
By Peter Weber, The Week US Published
-
Taylor Swift to Miley Cyrus: female artists dominate 2024 Grammys
Speed Read SZA, Phoebe Bridgers and Lainey Wilson were also among the winners at LA gala
By Arion McNicoll, The Week UK Published