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Amazon.com Inc. is in discussions to buy MGM Holdings Inc, the studio behind the James Bond franchise, according to a report Monday by The Information.
A deal could cost Amazon
AMZN,
between $7 billion and $10 billion, The Information reported, citing a person familiar with the situation, noting that the status of discussions is unknown and no deal may come of them.
Besides Bond movies, MGM owns an extensive library of movies and TV shows, including the “Rocky” franchise, “The Terminator,” “The Handmaid’s Tale” and “Survivor.”
Apple Inc.
AAPL,
had previously been rumored to have been interested in buying MGM, which started formally seeking a sale last year.
An MGM deal would significantly bolster Amazon’s library for its Prime Video and free IMDB streaming services, and could signal a new round of consolidation in the entertainment industry, following Monday’s deal between AT&T Inc.
T,
and Discovery Inc.
DISCA,
to form a new company combining WarnerMedia and Discovery content.
MGM is owned by a group of private equity funds.
Amazon shares are about flat year to date, but up 35% over the past 12 months.
