Skip to main content

Market Overview

Amazon In Talks To Acquire MGM Studios: What You Need To Know

Share:
Amazon In Talks To Acquire MGM Studios: What You Need To Know

Amazon.com, Inc (NASDAQ: AMZN) is in talks to acquire MGM movie studio, which could give a significant boost to the latter’s entertainment portfolio, as per reports.

What Happened: The discussions were reported by The Information on Monday (via AppleInsider). The status of the talks can’t be confirmed and there is no certainty the deal will reach fruition.  

The news of the talk between the two companies comes days after Amazon announced the return of Jeff Blackburn to its fold to lead the company’s consolidated media group, reported Variety.

Blackburn’s domain extends to Prime Video, Amazon Studios, Amazon Music, Wondery and podcasts, Audibles, games, and Twitch.

Why It Matters: MGM has a rich content catalog that includes James Bond films. The company also owns the Epix cable channel and it is the creator of popular television shows such as “Shark Tank,” Fargo,” and The Handmaid’s Tale.

On Monday, AT&T Inc (NYSE: T) and Discovery, Inc (NASDAQ: DISCA) confirmed that the two will merge the latter’s WarnerMedia arm with Discovery’s platform to create a global entertainment behemoth

Bank of America analyst Jessica Reif said in a note Monday that in their view the “DISCA/WarnerMedia would be a powerhouse content and streaming company offering investors pure-play exposure to enticing best-in-class content assets.”

Price Action: Amazon shares closed nearly 1.5% higher at $3,270.39 in Monday’s regular session and rose 0.32% in the after-hours trading.

See Also: Netflix Staring At A Big Customer Churn, Deloitte Report Finds: What You Should Know

 

Related Articles (AMZN)

View Comments and Join the Discussion!

Posted-In: MGM Streaming Video On Demand SVODM&A News Rumors Tech Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com