Amazon acquired MGM in 2021 for $8.45 billion. One of the most recent Amazon subsidiaries is MGM Holdings, which is the parent company of the famed Metro-Goldwyn-Mayer Studios. © 2023 NYP Holdings, Inc.There are many Amazon subsidiaries, including: A seasoned Amazon vet who understands the Hollywood landscape, Blackburn surprised industry insiders when he returned to the company after just a five-week stint working in the venture capital world.

The news comes as Amazon is welcoming back Jeff Blackburn to run its entertainment unit. MGM’s hits also include the “Rocky” movies starring Sylvester Stallone.

Some sources put the valuation at between $9 billion and $5 billion. The Information reported Monday that Amazon was in talks about a potential deal for MGM, which could run between $7 billion and $10 billion. The studio, which includes Oscar-winning flicks like “Rocky,” “Dances with Wolves” and “Rain Man,” as well as shows like “The Handmaid’s Tale” and “Vikings,” became the subject of speculation this weekend. At the time, the company had a market value of around $5.5 billion based on privately traded shares and including debt. MGM explored a sale late last year and tapped investment banks Morgan Stanley and LionTree and began a formal sale process.

Amazon is reportedly in talks to scoop up MGM, whose Hollywood blockbusters include the “James Bond” franchise. The deal is said to be orchestrated by Mike Hopkins, senior vice president of Amazon Studios and Prime Video, directly with MGM board chairman Kevin Ulrich, whose Anchorage Capital is a major MGM shareholder, Variety said Tuesday.Īmazon did not immediately respond to requests for comment. The legendary studio - whose film and TV catalog includes everything from “Silence of the Lambs” to “Shark Tank” - has been up for sale since late last year, and has long been seen as a possible target for a tech giant.īut according to reports, the Seattle-based e-tailer’s interest in snapping up the studio has become serious, as Amazon’s Prime Video streaming service faces increasingly stiff competition with fast-growing rivals like Netflix and Disney+. NYC casino race could be upended by Las Vegas bookie scandal: sourcesĪmazon is reportedly several weeks into negotiations on a deal to buy MGM, the Hollywood studio behind the “James Bond” franchise, for between $7 billion and $10 billion. Gen Z Hackers behind MGM, Caesars breaches are ‘more sophisticated’ and ‘ruthless’ MGM Resorts loses over $100M after refusing to pay ransom to end cyberattack Hollywood’s Jewish founders knew exactly what a pogrom is.

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