Apple TV+ currently only offers access to Apple original TV shows and movies, but another report this week suggests that Apple has considered expanding that library. CNBC reports that MGM and Apple have held “preliminary talks” about an acquisition, corroborating a report from the Wall Street Journal last month.
According to this week’s report, MGM has held “preliminary talks” with “a number of companies,” including both Apple and Netflix. MGM’s goal is to “gauge their interest in an acquisition” after building up a content library “worth more than $10 billion,” the report says. Much of that value comes from MGM’s franchises.
MGM is the owner of several film and television franchises, including James Bond, RoboCop, and The Magnificent Seven. It also owns premium cable network Epix, and has made shows including “The Handmaid’s Tale” and “Live PD.”
MGM had revenue of more than $1 billion for the first nine months of the year consisting primarily of about $600 million in TV and film licensing revenue and $300 million from Epix subscriptions. For the nine months ended September 30, 2019, MGM reported adjusted earnings before interest, taxes, depreciation and amortization of $123 million.
Much like the first report from the Wall Street Journal, this week’s report does not include details on the current status of talks between MGM and Apple, or if talks are still taking place. It doesn’t seem as if any deal between MGM and Apple is imminent. Instead, the report suggests it was something considered at least by MGM.
Last month’s report also said Apple had also held talks with PAC-12 about potentially integrating live sports into Apple TV+.
Unlike its competitors, Apple TV+ is home purely to original content from Apple and does not currently offer a back catalog of any sort. While Apple is continuing to ramp up its original content production, these reports suggest that Apple has at least considered the idea of an acquisition to build a broader catalog of content.
Keep up with all of the latest Apple TV+ original TV shows and movies in our full guide right here.
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