May 18, 2021

Amazon 'in talks to buy MGM Studios for $9bn'

Amazon is reportedly in talks to buy the historic MGM Studios for $9bn. MGM is one of Hollywood's most famous studios, with its Leo the Lion logo and an almost century-long history. The reports come just hours after telecoms giant AT&T agreed to combine its WarnerMedia unit with Discovery in a deal to create a new streaming giant. MGM Holdings, the parent company of MGM Studios, has reportedly been exploring a sale since the end of last year. MGM Studios has a huge catalogue of films and television shows covering the last ten decades, through the Golden Age of Hollywood to the present day. Discovery, whose portfolio includes Animal Planet and the Discovery Channel, reaches more than 88 million US homes, while its Discovery+ streaming service, which launched in January, has 15m subscribers.

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