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+.

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