“With Terminator at the Forefront, Amazon is Hoping to Conquer the OTT Market”
Amazon, led by Jeff Bezos, is in talks to acquire Metro-Goldwin-Meyer (MGM), a Hollywood film studio that created "The 007 Series" and "Terminator." Amazon is in takeover negotiations with MGM, according to Bloomberg News and international media outlets such as the New York Times.
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According to NYT and others, Amazon and MGM began negotiations last month. The acquisition cost is expected to be between $7 billion and $9 billion (roughly $7.9 trillion and $11.3 trillion KRW). "MGM has been calling for the sale of Apple and Comcast since last year, but no price deal has been reached," according to the New York Times. "Unlike MGM, which demanded $9 billion, Apple and others thought $6 billion was a reasonable sum." It will be the second-largest purchase in Amazon's history, valued at at least $6 billion.
The roaring lion logo is synonymous with MGM, which was established in 1920. It is a typical Hollywood film studio with over 4,000 films under its belt. However, MGM was also unable to avoid the consequences of the novel coronavirus infection (Covid-19). MGM, whose management had fallen out of favor, agreed to sell the company in December of last year. Netflix, Apple, and Comcast caught the public's attention, but the conversation was sluggish. Amazon was chosen by MGM because it offered the best acquisition price.
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Amazon is attempting to buy MGM in order to catch up to Netflix, the leading OTT provider. Netflix has a global subscription base of 270 million people. It is followed by Amazon's Prime Video, an OTT website with 175 million users. The media industry's merger and acquisition battle to dominate the OTT market is expected to heat up even further if Amazon's acquisition of MGM is completed.
Article Source : https://news.joins.com/article/24061285