Online retailer Amazon (NASDAQ:AMZN) is nearing a deal to buy MGM Studios (NYSE:MGM), owner of the James Bond franchise and other film and TV properties, for as much as $9 billion U.S.
The deal is expected to be announced this week and would be Amazon’s biggest acquisition since it bought Whole Foods in 2017 for $13.7 billion U.S.
Amazon is interested in acquiring more TV and film content for its Prime Video service as it competes with other streaming platforms such as Netflix (NASDAQ:NFLX), Disney (NYSE:DIS) and others.
MGM, which is a private company, has been seeking a buyer for several years. The company owns several popular movie and TV franchises, including Rocky, Legally Blonde, The Pink Panther and Stargate. It also owns a studio that has made several current hit TV shows,
including The Handmaid’s Tale and Fargo.
MGM also owns popular reality TV shows, including Shark Tank, Survivor and The Voice. And MGM owns Epix, a premium pay television service valued at about $1.3 billion U.S.
