Amazon.com is nearing a deal to buy the Hollywood studio MGM Holdings for almost $9 billion including debt, said people familiar with the matter, a pact that would turn a film operation founded in the silent era into a streaming asset for the e-commerce giant. (WSJ)
The deal is expected to be announced as soon as Tuesday. The people asked not to be named because the talks are private. (CNBC)
MGM was valued around $5.5 billion including debt last year. It trades on the OTC market and its stock price has soared in recent days, from about $105 a share in mid-May, before talks were reported, to $140 a share Monday morning. (Deadline)
If the deal goes through, it will mark Amazon’s second-largest acquisition in its history behind its 2017 deal to acquire Whole Foods for $13.7 billion. (New York Post)
