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According to people who know the thing, the MGM James Bond film studio behind the franchise is in negotiations to acquire MGM.
After the wave of mega-consolidation, MGM is one of the few Hollywood studios not owned by a larger conglomerate, as Warner Bros. operates at AT&T; Disney under Fox; Within Universal Comcast; and Paramount within ViacomCBS.
That consolidation in the sector was revived on Monday Discovery and WarnerMedia, as traditional media teams compete to build more scale, will compete with large technology companies entertained by an online company playing.
Like other film studios, the MGM coronavirus has hit hard. MGM has postponed a successful Bond film due to empty cinemas in the US and Europe over the past year No Time To Die four times.
Waiting for the movie and Covid-19 last fall, Netflix talked to MGM about the purchase No Time To Die for a streaming premiere, but the price the studio wanted turned out to be expensive, people who knew the subject said. The film is set to premiere on September 30 in the UK and on October 8 in the US.
MGM has an extensive library of films and shows, among others Fargo, The Handmaid’s Tale and Hobbit and Bond franchises.
MGM’s largest shareholder is the Anchorage Capital hedge fund, which began buying studio debt in 2010 as part of a bankruptcy plan as a result of the financial crisis. MGM reported net income of $ 293 million in the first quarter compared to revenue of $ 403 million.
Amazon does not want to comment. MGM did not respond to the request for comment.
The e-commerce giant is in the midst of loading up on entertainment plans, with staff claiming that last week Jeff Blackburn, a longtime lieutenant general manager Jeff Bezos, would return to the company to run the new “Global Media & Entertainment organization”. The unit will include a wide range of content for Amazon entertainment, from the Prime Video service to the Twitch gaming site.
Last year, Amazon spent $ 11 billion creating, acquiring or licensing music and video content for Prime subscribers, up from $ 7.8 billion in 2019. every year bn, to broadcast Thursday night football.
In a recent letter to shareholders, Bezos announced that Amazon had more than 200 million Prime members.
The information was first reported by Amazon in an interview with MGM.
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