iWorld

Amazon all set to lock a $9bn deal with MGM Studios, report says

The deal could be announced this week.

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2021/05/25/ama.jpg?itok=F5LzaHdv

KOLKATA: E-commerce giant Amazon is all set to close the MGM Studios acquisition deal for $9 billion according to a Wall Street Journal report, which says the deal could be announced as early as this week, provided there isn't any last-minute glitch.

The studio of Gone with the Wind and Rocky could turn out to be a great asset for the tech giant as it is substantially focusing on building up its entertainment footprint globally. Notably, MGM offers the famous Bond franchise but without owning it. It is also known for classics like Singin’ in the Rain, The Pink Panther.

According to the report, the talks between the two parties started at the beginning of the year and have been on-off since then. But it gathered pace over the last few weeks. The board of the Hollywood studio was also informed on the matter on Sunday, the report added.

If the deal finally comes to fruition, it would be Amazon's second-biggest acquisition ever, after the $13.7B deal for Whole Foods Market.

The e-commerce giant is putting in billions of dollars to boost its content library for prime video. It has also committed a huge budget for the production of a TV series based on Lord of the Rings. Then, it is also expanding its live sports portfolio across its key markets. Ultimately, the competition is with the likes of Netflix and Disney of the world.

MGM has been looking for prospective buyers for a long time now. While it wanted to cut a deal at $9 billion, prospective buyers in the past did find it over expensive. The market valued the studio around $5 billion. Even Apple, Comcast reportedly spoke to MGM but could not reach any agreement. This time it is amazon that never minds paying some extra to dodge off the competition.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_110450_800_x_800_pixel.jpg?itok=KvVUzybI
New Instagram feature to let users co-author same posts

Mumbai: Social networking application Instagram is set to introduce a new 'Collabs' feature that will allow users to collaborate with others on feed posts and reels on the photo-sharing platform. This new feature allows two accounts to co-author a post or reel. The post or reel will appear jointly...

iWorld Social Media
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/netflix.jpg?itok=pq5mvaCO
Netflix adds 2.2 million subs from APAC in Q3 2021

OTT Giant Netflix announced its results for Q3 2021. The company grew its revenues by 16 per cent to $7.5 billion year-on-year and added as many as 4.4 million paid subscribers globally bringing its total subscriber base to 214 million subscribers.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/19/img_19102021_173307_800_x_800_pixel.png?itok=r1Pj_AJ0
Airtel launches CPaaS solution ‘Airtel IQ Video’ to democratise video streaming

Mumbai: Communication solutions provider Bharti Airtel (Airtel) on Tuesday announced the launch of its video platform as a service (CPaaS) ‘Airtel IQ Video’ that will allow businesses to build world-class video streaming products for large and small screens with minimal investment in infrastructure...

iWorld Telecom
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/19/img_19102021_115256_800_x_800_pixel.jpg?itok=GMzz-fJr
SonyLIV announces new web series ‘Pulwama Key No 1026’

Mumbai: SonyLIV has announced that it will create a series on the Pulwama terror attack called “Pulwama Key No 1026,” helmed by National award-winning director Onir. 

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/16/img_16102021_123819_800_x_800_pixel.jpg?itok=ZsAMEIFy
Disney+ Hotstar to livestream warm-up matches for T20 World Cup 2021

Mumbai: Disney+ Hotstar will exclusively livestream the warm-up matches of the top eight teams at the ICC Men’s T20 World Cup 2021 that is slated to begin on 17 October. The warm-up fixtures amongst the top eight teams will be played between 18 and 20 October.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/14/photogrid_plus_1634210901493.jpg?itok=aq8UnOS4
Roposo launches live entertainment commerce

Mumbai: With an intent to disrupt the mobile and online commerce space, Roposo on Thursday announced the launch of a digital destination for creator-led, live entertainment commerce. According to a statement, the new offering will enable consumers to shop for top-notch products in real-time within...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/13/photogrid_plus_1634120012290.jpg?itok=XQS8tWP1
‘Squid Game’ reaches 111 million fans on Netflix

Mumbai: Netflix has announced that the Korean drama “Squid Game” has reached 111 million fans, making the series the OTT platform’s biggest launch ever. It is also the first series to be watched across 100 million accounts. The show began streaming on 17 September and is on Netflix's top ten lists...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/13/photogrid_plus_1634112345788.jpg?itok=wYciXdLi
Gaurav Khetan joins Koo as VP, business

Mumbai: Gaurav Khetan has joined homegrown microblogging site Koo as vice president-business, as per his updated LinkedIn profile. Khetan was last associated with Star Sports as vice president, rights acquisitions and strategy. He managed various portfolios in his nine-year stint at the Star...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/12/photogrid_plus_1634045647986.jpg?itok=xrS7WpE-
Prashant Gupta joins Bolo Live as CTO

Mumbai: Social live streaming platform Bolo Live has appointed Prashant Gupta as chief technology officer.  Gupta brings with him over 13 years of diverse engineering experience. Previously, he was associated with Pratilipi as co-founder and CTO, and has also had a stint with Amazon. Besides...

iWorld Over The Top Services

Sign up for our Newsletter

subscribe for latest stories

* indicates required