Amazon puts in $9bn bid for MGM

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Amazon looks like it’s taken a sizeable step towards owning its own movie studio, as a huge offer goes in for MGM.

Sooner or later, went the theory, one of the major streaming services would snap up either a cinema chain or a movie studio, and get their feet firmly under the table of the traditional business. It’s been several months now since rumours spread that MGM’s for sale. These two elements of story now appear to be coming together.

It’s being reported this morning that Amazon has bid a bit of its small change, $9bn, to acquire the MGM studios, presumably with free shipping included for that price.

It’s the size of the MGM library that’s one of the core attractions for Amazon, with thousands of movies and TV shows in its library. Furthermore, some big names too: Rocky, James Bond, RoboCop, Stargate… it’s quite a list.

We’re at the stage of the negotiation where nobody is really saying anything, and as such it’s a bit wait and see for the minute. But Amazon has the wallet to tackle a deal like this, and MGM is for sale.

More as we hear it…

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