Amazon in talks to buy MGM movie studio for $9 billion

Amazon.com Inc is in talks to acquire the iconic US movie studio MGM, The Information reported on Monday, citing a person familiar with the matter.

The status of Amazon’s discussions with MGM is unclear and it is possible no-deal may result, the report said, however, Variety has reported that Amazon has reportedly offered $9 billion for the company.

The movie studio behind the James Bond franchise also owns the Epix cable channel and makes TV shows, including popular shows like The Handmaid’s Tale, Fargo, Vikings, and Shark Tank.

Amazon declined to comment on the report, saying it “doesn’t comment on rumors or speculation”.

In December, Reuters reported that the movie studio was exploring a sale and had tapped investment banks Morgan Stanley and LionTree LLC and started a formal sale process.