Amazon is negotiating the potential acquisition of MGM for $9bn, a few days after Discovery and Warner Media announced their merger, reigniting the sector’s run of deals as traditional media companies seek to compete with big technology companies and online streaming. MGM’s major shareholder is Anchorage Capital, which started buying MGM’s debt in 2010 as part of a bankruptcy programme during the financial crisis. In Q1 2021, MGM reported a net income of $29mn on $403mn in revenue. Amazon and MGM have not provided further comments on the potential deal.

Amazon´s USD bonds were stable. Its 2.7% 2060s at 87.736, yielding 3.26%.

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