Amazon is in discussions to acquire MGM Holdings, said a person familiar with the situation, in what would be the e-commerce giant’s biggest move yet to expand in entertainment. (The Information)
The deal is said to be being orchestrated by Mike Hopkins, senior vp of Amazon Studios and Prime Video, directly with MGM board chairman Kevin Ulrich, whose Anchorage Capital is a major MGM shareholder. (Variety)
Amazon has reportedly offered $9 billion for the company, according to Variety, following a scoop from The Information earlier Monday that suggested a range of $7-10 billion for a potential deal, and Variety suggests that $9 billion was also the amount that MGM was reportedly hoping to get. (The Verge)
The Seattle company had long been thought to be a potential acquirer largely because of the appeal of the MGM film and TV library, which includes 4,000 movies such as Robocop, The Pink Panther and The Silence Of The Lambs. MGM’s scripted TV division is responsible for Fargo, The Handmaid’s Tale and Vikings. (LA Times / Company Town)
