After its immense success in the field of online marketing, now Amazon India is trying to establish its dominance in the world of video streaming platforms as well. According to media reports, Amazon is preparing to buy MX Player owned by Times Internet. For the last several months, there have been reports that Amazon India is going to buy MX Player to increase their audience. And now new updates are coming in this matter one after the other.
Amazon
Let us tell you that Amazon India has been trying to acquire Times Internet-owned MX Player since last year, but the deal could not be finalized last year. If sources are to be believed, now Amazon India is on the verge of breaking the deal. The deal between Times Internet and Amazon India is almost finalized. It is believed that a formal announcement will be made soon.
MX Player
Amazon India wants to take advantage of the opportunity of MX Player being currently in crisis. In such a situation, Amazon India is considering acquiring MX Player in a crisis sale. If sources are to be believed, the outline of the deal has been prepared. A term sheet has been offered to MX Player with $ 50 million from Amazon. Amazon India has been trying to buy this Times Internet-owned firm since March last year, but the deal fell through.
Amazon
According to media reports, Times Internet acquired MX Player in January 2018 in a deal worth $140 million. According to sources, once again both companies started fresh discussions in February this year and now Amazon India is very close to the deal. According to this deal, the MX Player team will join Mini TV and its CEO will be Karan Bedi.