The Wall Street Journal reportedAmazonClose to an acquisitionMGM plum(MGM Studio), transactions on the set range from US $8.5 billion to US $9 billion (HK $663 to HK $70.2 billion).

The report quoted sources as saying that the two sides signed an agreement as soon as this week.

Amazon expects to strengthen its Prime Video service in order to work withNetflix及DisneyWith competition from online streaming platforms, the acquisition of MGM Studios is expected to help Amazon achieve its competitive goals.

In addition to making movies, MGM Studios also produce TV dramas. The company is currently owned by a group of private equity funds, including Anchorage Capital, Highland Capital Partners, Davidson, Kempner Capital Management, Solus Alternative Asset Management and Owl Creek Investments, which helped MGM Studios emerge from bankruptcy protection in 2010.

MGM Studios and Amazon declined to comment on the news.

(letter network)