MGM Held Talks With Apple and Netflix to Gauge Interest in Acquisition
MGM held preliminary talks with Apple, Netflix, and other large media companies to gauge their interest in a possible acquisition, reports CNBC.
The report confirms another report from The Wall Street Journal last month that suggested Apple was exploring deals for MGM Holdings content, though the talks had "yet to reach an advanced stage."
A deal with MGM would potentially offer Apple a huge catalog of content to add to Apple TV Plus. MGM owns the James Bond franchise and is responsible for multiple hit TV shows like "The Handmaid's Tale," which currently airs on Hulu. It also owns Epix and the rights to movies like "Rocky" and "Mad Max."
There's no word on when and if MGM and Apple might reach some kind of deal, and all companies declined to comment on the ongoing talks.
Right now, Apple is behind other streaming media services. Apple TV+ features a handful of original Apple shows, like "The Morning Show," "For All Mankind," "Servant," and "See." Some of the shows have been nominated for awards and have proven popular, but Apple has a long way to go to be able to compete with the larger catalogs available from Netflix, Hulu, and Disney+.
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