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MGM Held Preliminary Acquisition Talks With Apple, Netflix, Others

MGM Held Preliminary Acquisition Talks With Apple, Netflix, Others

MGM has held preliminary discussions with Apple, Netflix, and other large media companies to measure their interest in a possible acquisition.

The CNBC report backs up a report last month from The Wall Street Journal that indicated Apple had discussed a deal to acquire MGM Holdings content, although the talks were still in the early stage.

A deal for MGM’s content library would greatly enlarge Apple’s own Apple TV+ content library, helping to put it on a more even footing with other streaming services, such as Netflix. MGM owns the James Bond franchise, as well as multiple hit TV shows. The studio also owns the Epic cable channel and streaming service.

The company also owns the popular Hulu series, “The Handmaid’s Tale,” as well as “Live PD,” a reality police show that has frequently been the most-watched show on cable TV and airs on A&E.

MGM had revenue of more than $1 billion for the first nine months of 2019 consisting primarily of about $600 million in TV and film licensing revenue and $300 million from Epix subscriptions.

So far, Apple has declined to comment on the possible deal.

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