Amazon Reportedly Negotiating $9 Billion Deal to Acquire MGM .
Industry sources have disclosed to ‘Variety’ that Amazon is negotiating a deal to acquire MGM.
The negotiations have reportedly been in the works for weeks.
Sources also disclosed that MGM representatives have been pushing a price tag of $9 billion.
According to 'The Information,' Amazon’s potential deal for MGM could run between $7 billion and $10 billion.
Representatives for Amazon and MGM have declined to comment on the matter.
MGM owns 4,000 film titles including the ‘James Bond’, ‘Hobbit’ and ‘Rocky/Creed’ franchises.
Their TV library includes an estimated 17,000 episodes of programing including ‘The Handmaid’s Tale,’ ‘Stargate SG-1,’ ‘Survivor’ and ‘The Voice.’.
Amazon’s media sector is a relatively small piece of its empire but has been growing fast in recent years.
In 2020, Amazon spent $11 billion on movies, TV shows and music for its Prime services.