Apple is understood to have held preliminary talks with MGM about potentially acquiring the media firm (via CNBC). Netflix reportedly also held similar conversations.
MGM is a Likely Acquisition Candidate
MGM, with its famous roaring lion, remains a major player in the media industry. Amongst other content, it owns the James Bond catalog. Furthermore, it is the studio behind the hit show The Handmaid’s Tale, and reality show Live PD. Furthermore, it owns Epix, a premium cable network. Any decision to purchase it by Apple might indicate a desire to expand Apple TV+ away from just original content.
Whether it is Apple, Netflix, or someone else, MGM is considered a likely acquisition target in 2020. Its owners include three hedge funds that bought it when it was bankrupt in 2010 – Anchorage Capital, Highland Capital, and Solus Alternative Asset Management. MGM had revenue of $1 billion for the first nine months of the year.