Apple holds preliminary talks with MGM, Journal reports

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Apple Inc. has held preliminary talks about acquiring Metro-Goldwyn-Mayer, the home studio of the James Bond film series, The Wall Street Journal reported.

Most of the story is behind a paywall. However, CET has a summary that can be viewed by CLICKING HERE.

Apple wants is considering “ways to broaden the appeal” of its Apple TV app and $4.99 a month Apple TV + streaming service, the Journal said. In addition to MGM, Apple also had preliminary meetings with the Pac 12 college athletic conference concerning possible programming, the Journal said.

In streaming, Apple is up against various competitors, including Netflix, Disney + and HBO Max. Financial analysts have speculated that Apple needs more programming compared to those competitors.

MGM controls the Bond film franchise, along with Danjaq, parent company of Eon Productions. The company also has a large film library, much of it from the old United Artists, which MGM acquired in 1981. MGM is owned by a group of hedge funds.

MGM has been rebuilding since a bankruptcy in 2010. It has gotten back into film distribution with the formation of the United Artists Releasing joint venture with Annapurna Pictures. MGM also is trying to build other “franchises” such as Creed and the animated Addams Family.

In 2017, The Hollywood Reporter said that Apple and Amazon were looking to get involved with the Bond franchise. At the time, distribution for Bond 25 (now titled No Time to Die) was unsettled. What eventually emerged was United Artists Releasing handling U.S. distribution for No Time to Die, with Universal performing distribution internationally.

The big development since then is the emergence of the streaming competition as studios move to counter Netflix. Walt Disney Co. has been aggressively marketing Disney +, including original programs from its Star Wars and Marvel franchises.

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