Amazon 'in talks over $9bn takeover' of James Bond film studio MGM

MGM owns the James Bond franchise. Credit: PA

Amazon are in talks with film studio MGM over a potential $9bn takeover, according to reports.

MGM is one of the few remaining studios to not be bought out by a major conglomerate in recent years, with the likes of Fox now part of Disney and Universal purchased by Comcast.

The studio makes the James Bond films, including the upcoming No Time To Die film, for which the release date has been repeatedly delayed due to the pandemic.

Covid has had a severe impact on MGM due to the fact cinemas have been forced to close for the majority of the past 15 months.

If the deal goes through it would grant Amazon's Prime streaming service access to a large back catalogue of films and programme made by MGM.

In addition to Bond, MGM's boasts titles such as Fargo, The Handmaid’s Tale and the Hobbit.

Hedge fund Anchorage Capital is currently the majority shareholder of MGM, having started to buy up the company's debt in 2010.

Amazon declined to comment.