Amazon is nearing a deal to acquire MGM Studios for nearly $9 billion, per CNBC’s latest report. MGM Holdings’ properties include the James Bond franchise, Rocky, Pink Panther, The Handmaid’s Tale, Survivor, The Real Housewives, and The Voice.
The deal, which was rumored earlier in May, could be announced Tuesday.
For those keeping track of Amazon’s spendings, MGM will be the tech giant’s largest acquisition since its $13.7 billion purchase of Whole Foods in 2017.
Like all tech deals of the past 4 years, at least part is tied to the Streaming Wars. CNBC reports that Amazon is interested in acquiring more TV and film content for its Prime Video service. I explored the Streaming Wars last week, concluding that while no one service can take out Netflix, several are suited to be successful complements. MGM’s library adds another line to Amazon Prime’s case.
Acquiring MGM’s studio should also add to Amazon’s abilities to create future high-profile films and series. The service is set for a significant boost once the Lord of the Rings series debuts later this year.
The question then becomes whether there will be a battle between U.S. regulators and Amazon, which has already attracted antitrust scrutiny. For what it’s worth, legal experts tell Yahoo they are not expecting one.
Coming soon to Amazon: MGM, Lord of the Rings, and exclusive rights to Thursday Night Football. Not bad. It’s only the start.