Amazon Said To Make $9 Billion Offer for MGM
Amazon is weeks into negotiations on a deal to acquire MGM for about $9 billion, industry sources tell Variety. From the report: Chatter that Amazon (and other tech giants) have been sniffing around MGM has circulated for some time. But sources indicated that Amazon's interest in acquiring the studio has taken on a new tenor beyond the usual rumor mill. The deal is said to be being orchestrated by Mike Hopkins, senior VP of Amazon Studios and Prime Video, directly with MGM board chairman Kevin Ulrich, whose Anchorage Capital is a major MGM shareholder. MGM had already effectively nailed up a "for sale" sign: Variety confirmed in December that the company was looking for a buyer.
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