In the wake of the surprise $43 billion merger between Discovery and AT&T’s WarnerMedia, rumors are racing that Amazon is poised to scoop up MGM in a deal which is reportedly worth under …
Much of this coming from a speculative report inDeadline separately hears from sources that there’s been a weeks of talks between the tech giant and the Hollywood studio that included sales presentations. MGM declined to comment on rumors, and Amazon did not respond. We’re awaiting more intel at the time of this report.
Rumors have been afloat for years that the 007 studio has been up for sale. Days before Christmas last year, areport surfaced that MGM had tapped Morgan Stanley and LionTree to explore a sale. At the time, rumors were swirling that another tech giant, Apple, was interested in acquiring the studio. MGM had been seeking $10 billion+, a price tag considered too high by a number of potential suitors.According to sources, speculation intensified late last week that an Amazon-MGM deal was imminent.
What would Amazon be getting? One of the deepest film libraries, which boasts 177 Oscar wins, 12 Best Picture winners, the James Bond franchise which has grossed over $7 billion in its global B.O. lifetime, and the movies which have together earned more than a $1 billion. There’s also the Epix pay TV network, which MGM took full ownership of in 2017, buying out the stakes of Paramount and Lionsgate. There’s also Emmy winning series such as franchise are owned by EON Prods.
MGM’s financial statements reportedly show $1.496 billion in revenue last year, up from $1.18 billion in 2016.producer Michael De Luca joined MGM in January last year to turn the studio around, and active it certainly was during the pandemic when several other studios pulled back their activity.
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