AMAZON Nears Deal to Buy Hollywood Studio MGM…

AMAZON Nears Deal to Buy Hollywood Studio MGM…

Amazon Nears Deal to Buy Hollywood Studio MGM Deal for the ‘Rocky’ and ‘James Bond’ studio would mark tech company’s second largest-ever acquisition Amazon.com Inc. is nearing a deal to buy the Hollywood studio MGM Holdings for almost $9 billion including debt, said people familiar with the matter, a pact that would turn a film operation founded in the silent era into a streaming asset for the e-commerce giant. An agreement could be announced as early as this week, people close to the situation said, assuming the talks don’t fall apart at the last minute. The deal would mark Amazon’s second-largest acquisition in history, behind its $13.7 billion purchase of Whole Foods in 2017, and highlight the premium that content is commanding as streaming wars force consolidation and drive bigger players to bulk up with assets that help them compete. The privately traded MGM was valued around $5.5 billion, including debt, last December. Its stock price has soared in recent days, from about $105 a share in mid-May, before talks were reported, to roughly $140 a share Monday morning. The share price reached $150 Monday afternoon, after The Wall Street Journal reported news of the expected deal. The fabled movie and TV studio had around $2 billion of long-term debt at the end of March. It has long been considered in play, but hired investment banks LionTree LLC and Morgan Stanley late last year to begin a formal process. Continue reading your article with a WSJ membership a WSJ membership – Target: 20% off sitewide – Target Promo Code 2021 – Macy’s: Macy’s coupon – Sign up to get 25% off next order – Kohl’s: 30% off Kohl’s coupon for Rewards members – Saks Fifth Avenue: 20% off first order – Saks Fifth Avenue coupon – Old Navy: Save 25% on Quilted Puffer Vest with Old Navy coupon – PrettyLittleThing: Extra 20% off PrettyLittleThing promo code for your purchases Most Popular News San Jose Shooting Leaves at Least Nine Dead, Including Gunman When to Watch the Super Flower Blood Moon Lunar Eclipse 2021 Thousands of Homes Are Reserved for Certain Buyers Lunar Eclipse Photos: See the Super Flower Blood Moon Up Close Google, Hospital Chain to Make Tools Using Patient Data Most Popular Opinion Opinion: Correcting 1619’s Falsehoods About the American Founding Opinion: Ban Cryptocurrency to Fight Ransomware Opinion: Two Grifters and a Dossier Opinion: Merrick Garland Defends Bill Barr Opinion: Putin Hijacks Biden for a Summit Most Popular Videos – – – – –

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