Amazon likely to buy MGM Studios for $9 Billion

As per Variety, Mike Hopkins, senior VP of Amazon Studios and Prime Video is in talks with MGM board chairman Kevin Ulrich to seal the deal for $9 billion.

Tech giant Amazon could become the new heir of iconic US movie studio MGM. As per reports, the company is in talks to seal the deal for about $9 billion (roughly Rs. 65,770 crores). The status of the deal is not clear at this moment. It has been reported that many companies apart from Amazon have been trying to acquire the popular US studio. As per Variety, Mike Hopkins, senior VP of Amazon Studios and Prime Video is in talks with MGM board chairman Kevin Ulrich to seal the deal for $9 billion. Earlier in December, Variety reported that the MGM was looking for a buyer. Popular films like James Bond, Hobbit,Pink Panther franchises, The Silence of the Lambs, Deep in a Heart, It's Always Fair Weather , and Invitation to the Dance ,The Band Wagon, Mutiny on the Bounty, A Space Odyssey, Stargate SG-1, Stargate Atlantis, Stargate Universe, Vikings, Fargo, The Handmaid’s Tale,Get Shorty,Condor,Fame,American Gladiators,Teen Wolf among others were produced by MGM Studios. The MGM has a library of 4000 films and 17,000 hours of TV. The Information also reported that there are chances of the deal not materialising but if it does it would be a major boost for Amazon’s streaming platform.