Amazon is reportedly in talks to buy MGM, the vaunted film studio that was a staple of Hollywood's Golden Age. A tie-up would give the tech firm a big brand to wield as competition in streaming grows fiercer by the day.
MGM's iconic logo of a roaring lion has played before tons of classic films, including the"James Bond" series, and the studio could be valued at between $7 billion and $10 billion, according to The Information, which cited a person familiar with the situation. The New York Times and the Financial Times have also reported the talks.Amazon did not immediately respond to a request for comment from CNN Business. MGM could not be reached. A deal has been touted for a while.
The company has already put a lot into making Prime Video a bigger selling point for its service. A highly anticipated TV show set in the"The Lord of the Rings" universe, for example, is reportedly costing $465 million for a single season. Amazon has also set its sights on the awards circuit. Its Amazon Studios film division distributed"Manchester by the Sea," which was nominated for Best Picture at the 2017 Academy Awards.
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