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Amazon Negotiates Acquisition of James Bond MGM Film Studio

Amazon is in talks to acquire Metro-Goldwyn-Mayer Studios, the Beverly Hills film and television company behind the James Bond and Rocky film franchises and TV shows, including “The Voice,” according to three acquaintances who were not authorized to comment.

Amazon is looking to fill its film and television operations with MGM’s deep film library and significant television production as it appears to keep Prime Video competitive with Netflix and Disney +, which spend billions to dominate the current wars, sources said.

The Seattle-based company has long been considered a potential acquirer, largely because of the appeal of MGM̵

7;s film and television library, which includes 4,000 films such as The Pink Panther Robocop and The Silence of the Lambs. MGM’s screenwriting department is responsible for Fargo, The Handmaid’s Tale and Vikings.

The information first announced the talks, which have recently escalated and are said to be at an advanced stage. Sources claim that the discussed purchase price is in the range of 7 to 9 billion dollars.

MGM declined to comment, and Amazon officials did not respond to requests for comment.

If MGM still sells to Amazon, it would be a remarkable deal for Hollywood, which is increasingly dominated by technology giants. Internet giants such as Amazon, Apple and the mother of Google Alphabet have long speculated as potential buyers of a legacy film studio.

Negotiations for the deals came after Amazon had a solid performance at the Academy’s 93rd Awards, where there were 12 nominations for films, including “One Night in Miami” and “Sound of Metal.” He released popular films in the pandemic, including “Borat Next Moviefilm” and “Coming 2 America”, which he acquired from Paramount. But technological titanium still needs more to cope.

Discussions that may still fall apart come after Amazon CEO Jeff Blackburn returned to the company to oversee Prime Video, Amazon Studios and other entertainment businesses. This move is seen as another sign that Amazon is growing in entertainment.

The sale of MGM will be the latest consolidation in the media and entertainment space, as companies join forces to achieve competitive size and reach.

AT&T said Monday that WarnerMedia’s media division will split and merge with Discovery to create a new company that can take over Netflix and Disney +.

MGM has been in the block for months. The company eavesdropped on bankers to investigate the sale in December. Smaller studios are struggling to stay competitive as larger players gather for streaming wars. Lionsgate and others are constantly rumored to be targets.

Some of MGM’s moves during the pandemic fueled sales rumors. The chairman of the film, Michael De Luca, is strengthening his position. In November, MGM announced plans for Oprah Winfrey and Brad Pitt to produce an adaptation of Ta-Nehisi Coates’ “Water Dancer.” In August, the company promised to redesign its Orion Pictures label to focus on films with various directors and starring Alana Mayo, a former production manager at the Michael B. Jordan Outlier Society.

This will be the last change of ownership of the condominium with the roaring lion logo. MGM withdrew from Chapter 11 insolvency protection in December 2010 under a pre-planned debt relief plan of $ 4 billion. New York-based private equity firm Anchorage was among MGM’s largest group of shareholders at the time.

Since 2018, MGM has been managed by a “Chief Executive Officer’s Office” that includes Chief Operating Officer Chris Brerton, TV presenter Mark Burnett and other executives. MGM adopted the structure when CEO Gary Barber was abruptly fired eight years later.

Barber insisted on a sale, which Anchorage chief Kevin Ulrich opposed, say insiders who are not authorized to comment.

Times staff writer Wendy Lee contributed to this report.

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