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Apple wanted to acquire MGM to power Apple TV + content

Apple TV + still has some shortcomings, as many users note, starting with the lack of non-original content. To address this problem, Apple is said to have considered taking over the entire MGM catalog.

MGM Apple

After the Wall Street Journal, CNBC also reports that MGM and Apple had preliminary talks for a possible acquisition. In reality, MGM also spoke with some competitors like Netflix. His goal was to understand the interest of these companies for a possible acquisition of a catalog whose estimated value exceeds 10 billion dollars.

MGM is indeed the owner of many film and television franchises, such as James Bond, RoboCop and The Magnificent Seven. The company also owns the Epix cable network and some TV series such as "The Handmaid?s Tale" and "Live PD".

In the first nine months of 2019, MGM generated sales of more than $ 1 billion, notably through revenues from television and movie licenses ($ 600 million) and subscriptions to the Epix channel ($ 300 million). As of September 30, 2019, MGM reported net earnings of $ 123 million.

CNBC does not know all the details of the talks between Apple and MGM. We will not be able to say either if the negotiation is still in progress. For the moment, no agreement between the two companies is yet to come.

How about some non-original content coming to Apple TV +?