We know that a lot of acquisitions take place at Amazon, and it is also common to see the company expanding in specific categories. However, it is worth noting that a report suggests that Amazon is in talks to acquire India’s MX Player and the deal is currently in the due diligence stage, which means that if it passes the due diligence, the deal is most likely to be closed. It is also interesting because of the fact that Amazon already has its own digital streaming platform named Amazon Prime Video so its decision to acquire MX Player in India is most likely to acquire the content and understand the Indian population’s choices.
MX Player is currently owned by Times Internet which acquired it back in 2018 for a whopping $140 million and the platform seems to have grown massively after that. It is also worth noting that Amazon has a Mini TV player in its application which also hosts a lot of shows so it will be interesting to see where Amazon plans to integrate this service. However, Amazon is not the only one interested in this acquisition as talks are ongoing with Sony and Zee Entertainment as well. While the price requested by Times Internet is not known yet, sources report that the deal could be worth close to $100 million. Amazon’s internal team valued the deal at just $60 million which is way off the target of Times Internet but if Amazon is interested, the deal could be closed at a higher price.
Times Internet is currently undergoing a big restructuring because of the fact that it has sold most of its brands such as Dineout to Swiggy, MensXP and iDiva to Mensa Brands as well as MX Takatak to ShareChat. It is not clear what the future plans for Times Internet are but it is quite clear that the company’s English language daily Times of India and Economic Times are currently at the forefront of attention. As for Amazon, it looks like the company is planning to increase its ad-supported content on MiniTV platform with the acquisition of MX Player which will definitely give it a solid boost.