Myles Udland, Brian Sozzi, and Julie Hyman discuss how Amazon is reportedly close to finalizing a $9 billion deal for MGM Studios that would diversify its streaming catalog and its possible impact in the streaming landscape.
MYLES UDLAND: Amazon is nearing a deal– “Wall Street Journal” with the latest report on this language– to acquire MGM Studios for about $9 billion. It would bolster the company’s Prime Video library. Of course, they would bring the James Bond brand, among others, in-house with that. And this comes at a time when, of course, media is doing its inevitable and endless cycle of reshuffling, divesting, combining, putting new assets in new homes.
The AT&T Warner Media deal from last week for Warner Media will be spun out, combined with Discovery, kind of a take over, take under. Some people have called it an aqua hire of Discovery, CEO David Zaslav. We talked with CEO John Stankey– AT&T CEO John Stankey about that deal yesterday.