Amazon in Talks to Buy Indian Video Giant MX Player
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One of the sources who asked to remain anonymous said that the American e-commerce giant had hired one of the Big Four accounting firms to do exclusive due diligence on MX Player. The process should take between 30 and 40 days.
Reports say that the American e-commerce giant Amazon Inc. is in advanced talks to buy the video streaming service MX Player from Times Internet. One of the anonymous sources quoted in the reports said that Amazon had hired one of the Big Four accounting firms to do exclusive due diligence on MX Player. Most likely, the process will take 30 to 40 days.
The deal is still not done. However, reports say that if everything goes well, it could be done in two months. Amazon is not the only company that wants to buy the company. Zee Entertainment and Sony are also in line to do so.
In 2018, Times Internet paid $140 million for MX Player. Around 300 million people around the world use MX Player. MX Player has taken over the Indian market by giving free access to live cable TV channels and a wide range of videos. Most of the money that MX Player makes comes from ads. MX Player says that more than 150 million people in India use it.
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