It looks like Metro-Goldwyn-Mayer is going to be up for sale soon and it looks like Apple and Netflix are both interested in one of Hollywood's major studios.
According to a new report by CNBC, Netflix and Apple have been in preliminary talks to purchase MGM. The news might come as a surprise to readers, but back in 2010, MGM announced bankruptcy, and now, it looks like the studio has begun looking around for potential suitors. The studio isn't exactly what it was once in its heyday, though the report does say that MGM is valued around $10 billion.
Aside from the James Bond film franchise, MGM doesn't have that much going for it, though there are cult franchises like RoboCop, Rocky, and Species. The studio doesn't have that much of a competitive edge when compared to Disney, WarnerMedia, and Sony.
The report says that the acquisition of MGM includes all of the company's subsidiaries. This includes MGM Home Entertainment, Epix, Orion Pictures, and MGM's stake in the United Artists Releasing joint venture together with Annapurna Pictures. Aside from all of these subsidiaries, Netflix and Apple's interest in MGM may be the studio's large library of content.
Netflix has been known to spend on content, and right now the streaming company is set to spend more than $17.3 billion on original content alone. The streaming platform may be interested in purchasing MGM after the launch of Disney+, another site that may very well turn out to be a major contender in the streaming business.
Bond's latest entry, No Time To Die, is set for release on April 10.