Amazon eyes MGM as race for streaming domination heats up

Dow Jones2021-05-18

MW Amazon eyes MGM as race for streaming domination heats up

By Pierre Briançon

Amazon has entered talks to buy MGM, the last big independent Hollywood movie studio, in a deal that would help beef up the content portfolio of the online retailer's Prime Video service, as the industry's consolidation is accelerating in the wake of COVID-19 pandemic-induced changes in consumer behavior.

Read: AT&T to Merge Media Assets With Discovery

The outlook. The $9 billion price mentioned in reports is way above what was discussed three years ago with Apple, and even higher than the $8 billion the studio's chairman said at the time he could extract from a buyer. Amazon's deep pockets could help it clinch the deal.

-; 415-439-6400; AskNewswires@dowjones.com

$(END)$ Dow Jones Newswires

May 18, 2021 07:32 ET (11:32 GMT)

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JiN
2021-05-18
JiN
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