AMAZON KEEN ON TAKING OVER MGM IN A $9 BILLION DEAL
Amazon is closing in on a deal to purchase legendary Hollywood studio MGM, according to the Wall Street Journal,
There's a a move by Amazon to take over the MGM studio in a deal that could bolster the company’s entertainment offerings and help draw more customers to Amazon Prime, the company’s streaming service.
The deal being discussed would reportedly see Amazon pay close to $9 billion for the Beverly Hills-based movie Studios, one of the oldest and most well-known movie studios in the world.
Sources close to the negotiations explains the deal, if last-minute negotiations did not fall apart, could be annouces to the public as soon as possible, even before the end of the week.
The studio was in into all valued at $5.5 billion, including debt and all other unforeseen returns according to the Wall Street Journal. If the deal isn't met with stiff or recaserant factors or oppositions, we will be seeing the streaming company taking over in the next few weeks.
The Metro Goldwyn Mayor is one of the oldest studio in the movie business in the United States and will add immeasurable value to the growth and developments of the Amazon Prime entertainment immensely.
You Can Also Read
