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Amazon in talks to acquire MGM ‘James Bond’ movie studio

Amazon is in negotiations to acquire the business. Metro-Goldwyn-Mayer Studios, the Beverly Hills film and television company behind the James Bond and Rocky film and TV franchise, includes “The Voice,” according to three people familiar with the matter who are not allowed to. Comment

Amazon is looking to grow its movie and TV operations with MGM’s deep movie library and massive TV production, as it appears to make Prime Video compete with Netflix and Disney +, which have spent billions for. Dominated the streaming wars, the sources said.

The Seattle Company is seen as a potential acquisition company, largely due to the attractiveness of MGM̵

7;s library of film and television programs, including 4,000 films such as “Robocop,” “The Pink Panther” and “The Pink Panther”. The Silence of the Lambs, ”MGM’s scripted TV division, is responsible for“ Fargo, ”“ The Handmaid’s Tale, ”and“ Vikings. ”

The first reports of talks, which have been increasing recently and are said to be at the high end. The source said the purchase price being discussed was in the range of $ 7 billion to $ 9 billion.

MGM declined to comment and an Amazon representative did not respond to a request for comment.

If MGM sells to Amazon, it will be a big deal for Hollywood, which is increasingly dominated by tech giants.Internet giants such as Amazon, Apple and Google Alphabet have long been speculation. Then that’s a potential movie studio buyer.

The deal talks came after Amazon had a solid performance at the 93rd Academy Awards, with 12 nominations for the film, “One Night in Miami” and “Sound of Metal” debuted. Popular outbreak movies like “Borat Subsequent Moviefilm” and “Coming 2 America” ​​were derived from Paramount, but Titan technology still needed more to keep up.

The debate, which continues to fall apart, comes after Amazon CEO Jeff Blackburn returned to the company to oversee Prime Video, Amazon Studios and other entertainment businesses.The move was another sign that Amazon was on the rise. In entertainment

MGM’s sale is the latest in a string of mergers and acquisitions in the media and entertainment space as companies work together to achieve a competitive size and scope.

AT&T on Monday said WarnerMedia’s media group would spin off and merge with Discovery to form a new company capable of joining Netflix and Disney +.

MGM has been blocked for months, the company urged bankers to explore the sale in early December. Small studios have struggled to stay competitive as more and more big players for the streaming war, Lionsgate and others are constantly rumored to be acquisition targets.

Some of MGM’s moves during the plague spark sales rumors.Michael De Luca, the film’s president, raised the slate, MGM in November announced plans for Oprah Winfrey and Brad Pitt to produce results. Ta-Nehisi Coates’ film adaptation of The Water Dancer in August, the company vowed to create a new Orion Pictures label to focus on films featuring a wide range of filmmakers and actors under former chief of staff, Alana Mayo. Producer of Michael B.’s Outlier Society.

It will be the latest ownership change for a tier brand with a roaring lion logo, MGM emerged from Chapter 11 bankruptcy protection in December 2010 under a prefilling plan to clear $ 4 billion of debt, New York-based private equity firm Anchorage. It was one of MGM’s top creditors that became shareholders at the time.

Since 2018, MGM has been run by a “CEO’s office” comprised of Chief Operating Officer Chris Brearton, Chief Television Mark Burnett and other executives, MGM adopted the structure when Chief Executive Gary Barber was sacked immediately after eight years.

The barber had pushed for a sale, which Anchorage chief Kevin Ulrich objected, according to people familiar with the matter, who was not authorized to comment.

The Times staff writer Wendy Lee contributed to this report.

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