Amazon is engaging with Times Internet to explore the acquisition of MX Player, one of the largest on-demand video streaming services in the country, according to three sources familiar with the matter, as the global e-commerce group eyes expanding its entertainment ambitions in the key overseas market.
The deliberations are ongoing and may not materialize into a deal, all three sources cautioned. The terms of the deal are yet to be finalized. Times Internet and Amazon did not immediately respond to a request for comment.
Indian conglomerate Times Internet toptechtrends.com/2018/06/27/times-internet-buys-mx-player-for-140m/”>acquired MX Player for $140 million in 2018. The video app, popular for wide playback support on low-cost Android phones, has expanded to original content in recent years and has amassed over 300 million users globally.
This is a developing story. More to follow.
toptechtrends.com/2023/02/10/amazon-mx-player-times-internet/”>Amazon in talks to acquire Indian video giant MX Player by toptechtrends.com/author/manish-singh/”>Manish Singh originally published on toptechtrends.com/”>TechCrunch
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