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Amazon closing on a deal to buy MGM

As per reports, Amazon is nearing a deal to acquire Hollywood studio, MGM. It is expected that the value of the deal will be close to $9 billion and will be finalized as early as this week. Last week it was reported that if this deal turns out successfully, then Amazon will be able to turbocharge its streaming ambitions by bringing in James Bond, RoboCop, and other major film and television properties.

MGM has been looking to sell its rights to any interested buyer for months now. As per Apple and Comcast, MGM’s worth was roughly close to $6 billion. For Amazon, its biggest acquisition so far has been the purchase of Whole Foods for $13.4 billion in 2017. The purchase of MGM at $6 billion will make it the second largest.

MGM has a total of 4000 films in its library. However, many of its characters (the Pink Panther, Chucky the doll) and franchises (Legally Blonde, Tomb Raider) are in massive requirement of reinvention. However, the studio is already prepared to provide the audience with a wide array of new films, which include Ridley Scott’s ‘House of Gucci’ starring Lady Gaga and Adam Driver; a biopic of Aretha Franklin called ‘Respect’, which will star Jennifer Hudson; an animated sequel of ‘Addams Family’, and a lot more.