After multiple negotiations made, Amazon India finally acquires the OTT platform MX Player from Time Internet Ltd. In the past few days, there were multiple reports released stating that Amazon is in talks with the owners of the OTT Platform but neither TIL nor Amazon spoke anything in relation to this matter. Even earlier this week, Amazon shared its response stating, “ We don’t comment on rumors and speculations .”
Till now both companies have not made any official announcement but according to a few reports sources close to the development have said, “ A deal between Amazon and TIL has been finalized in this regard, which stipulates final payments of the deal should be completed by 30 June this year .” Maybe then an official statement will be released by the concerned companies.
Also, the reports have revealed that this acquisition has been made by shelling out substantially less money than the last acquisition price. In 2018, Times Internet purchased an MX player for an estimated sum of Rs.1000 crores and this time the price is estimated to be around Rs. 350-400 crores.
Meanwhile, MX Player CEO Kiran Bedi is expected to obtain around a third of the amount of the agreement. The remaining money will be paid to other shareholders.
This step by Amazon India is termed as a game changer in the Industry as MX Player was ranked as the third most downloaded app in the world in 2022 and now with this deal cracked by Amazon India, it is expected that the company will be four times more important in terms of acquiring consumers.
