TELETRADER News
5/24, 9:04 PM (Source: TeleTrader)
more TeleTrader news

Amazon to finalize MGM acquisition this week - report

Amazon.com Inc could finalize the deal to acquire Hollywood studio Metro-Goldwyn-Mayer (MGM) Holdings for over $9 billion as early as this week, reported the Wall Street Journal on Monday citing sources familiar with the matter.

The deal would reportedly make MGM into a streaming asset for Amazon. The acquisition would be Amazon's second-largest purchase after Whole Foods in 2017.

Stories of the talks between Amazon and MGM first surfaced last week and have not been confirmed by either company. MGM Holdings reported revenue of $403.3 million and net income of $29.3 million in the first quarter of 2021.

Breaking the News / MJ