Last week, we heard reports that Amazon had made a $9 billion offer to acquire MGM. Today, The Wall Street Journal reports that the two companies are closing in on a deal, and “an agreement could be announced as early as this week,” according to WSJ sources.
If the deal goes through, Amazon would acquire a huge catalog of content from MGM, which was founded in 1924. MGM’s film library is made up of over 4,000 titles including the James Bond franchise, the Rocky franchise, The Silence of the Lambs, and Four Weddings and a Funeral. The studio also produces TV titles including Survivor and Shark Tank.
Amazon has been in the business of investing in its streaming service, spending $11 billion on video and music last year. The company has also been making movies in-house, but most of Prime Video’s biggest titles have been acquisitions, including “Borat Subsequent Moviefilm” and “Coming 2 America” which saw success during the pandemic.
The deal would be the largest acquisition from Amazon since the company bought Whole Foods in 2017 for $13.7 billion.