WSJ: Amazon Near Deal To Buy MGM For $9 Billion

The Wall Street Journal reports: 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 deal for 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.

Read the full article. Jeff Bezos has said he will step down as Amazon’s CEO in the third quarter of this year. MGM Holdings is also the parent of United Artists Releasing, Orion Pictures, Orion Classics, Epix, Comet, and a constellation of film content companies.