Amazon in Talks to Buy MGM for as Much as $10 Billion

James Bond and “Lord of the Rings” under one roof?

Tim Baysinger

In the latest round of merger mania, Amazon is in talks to buy the studio MGM, according to report in The Information on Monday.

Citing a person familiar with the situation, The Information reported the deal could be anywhere between $7 and $10 billion.

If a sale were to happen, it would represent Amazon’s biggest play in the content game after years of speculation that the retail giant was in the market for acquisitions. In December, MGM hired Morgan Stanley and LionTree LLC to launch a formal sale process.

Reps for both MGM and Amazon declined to comment on what each company described as “rumors and speculation.”

The storied studio has a rich library of movies and TV shows that could be attractive to both other studios and streaming services. In addition to the James Bond and “Rocky” franchises,” MGM produces TV hits such as “The Handmaid’s Tale” and “Vikings.” The studio’s library includes a 4,000 film titles and 17,000 hours of TV programming.

Along with its film and TV library, MGM also owns premium cable network Epix.

In 2019, the studio grossed just over $23 million at the domestic box office — and last year’s releases have been delayed by the pandemic, including the expected blockbuster 25th Bond film, “No Time to Die,” which is currently aiming for an October 2021 release in theaters.

The news of Amazon’s interest in MGM comes just hours after AT&T reached a deal to spinoff WarnerMedia in a merger with Discovery.

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