Rumors that Amazon and other cash-rich tech companies were interested in buying the studio have circulated for a while, but sources told Variety that Amazon's interest in acquiring the studio has taken on a new zeal.
[Ads /]
The deal is said to be 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, according to Variety, which confirmed in December that the studio was looking for a buyer.
According to Variety, news of Amazon's alleged talks with MGM began to spread over the weekend.
The Information, a subscription-based digital media publication, also reported Monday that Amazon was in talks about a potential deal for MGM, which could run between $7 billion and $10 billion.
[Ads /]
Industry sources say MGM representatives have indicated to prospective buyers for months about a price tag of $9 billion, while others see it as worth about $5 billion, according to Variety.