Apple & Netflix Reportedly Looking to Acquire MGM Catalog
The $10 billion USD catalog houses ‘RoboCop, ‘Mad Max,’ ‘Rocky,’ ‘James Bond’ & more.
With Disney‘s acquisition of 21st Century Fox in 2019, another major film studio may soon find a new home online. According to reports, Apple and Netflix are both interested in acquiring Metro-Goldwyn-Mayer‘s (MGM) extensive catalog that’s currently valued at an estimated $10 billion USD.
Sources claim that MGM representatives have already held “preliminary” meetings regarding the possible acquisition with multiple companies including Apple and Netflix. If the purchase does push through, the winning entertainment conglomerate will soon see titles like RoboCop, Mad Max, Rocky, James Bond, The Handmaid’s Tale and Love and Hip Hop landing on their streaming service.
In recent reports, Netflix announced that it garnered 8.76 million new accounts in the fourth quarter of 2019, however, only 420,000 accounted for subscribers in the US. On the other hand, Apple generated a $12.7 billion USD revenue from the net sales of its services, including iCloud, Apple Music, Apple Arcade and Apple TV+.
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