There have been rumors about Amazon (and pretty much every other big tech firm) kicking the tires at MGM for quite a while, but Variety is reporting that “Amazon’s interest in acquiring MGM has taken on a new tenor beyond the usual rumor mill. The deal is said to be being 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.”

Apparently there’s a $9 billion offer on the table. Like I always say, “Rich or poor, it’s nice to have money.”

This is not a surprise, but it did make me think back to Ted Turner’s reasons for purchasing MGM. Back in 1985, $1.5 billion got him 2,200 movies to play on his superstation WTBS, including ”Gone With the Wind,” ”The Wizard of Oz,” and ”Singin’ in the Rain.” Things have progressed nicely since 1985, as the library now has more than 4,000 movies and more than 17,000 episodes of iconic television shows. For Amazon, $9 billion seems like a bargain.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications, co-founder of Metacademy, and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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