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Amazon In Talks To Buy MGM Movie Studio For About $9 Bln : Reports

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Amazon.com Inc. is in discussions to acquire the MGM movie studio for about $9 billion, according to the several media reports citing people familiar with the matter.

The reports noted that MGM will help bolster Amazon's Prime streaming service. Amazon is weeks into negotiations to buy the studio.

MGM's extensive library includes James Bond movies, the "Rocky" franchise, "The Terminator," "The Handmaid's Tale," and "Survivor."

On Monday, AT&T Inc. (T) and Discovery, Inc. (DISCA, DISCB, DISCK) announced a definitive agreement, under which WarnerMedia's premium entertainment, sports and news assets will be combined with Discovery's nonfiction and international entertainment and sports businesses. The combination will create a new standalone company.

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