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Amazon to buy MX Player?

Sources claim that the tech giant is in advanced talks with Times Internet to buy the latter's OTT platform

by exchange4media Staff
Published - Mar 20, 2023 11:54 AM  |  2 min read

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Amazon is believed to be in advanced talks to acquire Times Internet-owned OTT platform MX Player, sources have told exchange4media.

In 2018, Times Internet surprised the world by acquiring MX Player for an estimated sum of $140 million or Rs 1,000 crore then.  

The move was considered a bold move by the Times group, especially since the company’s previous OTT venture — BoxTV.com — had shut down in 2016 only, after four years of existence. 

Four years down the line,  Times Internet, the digital arm of media conglomerate Times Group, has decided to sell MX Player, one of the largest OTT platforms in India.

“Amazon is set to acquire MX Player to expand its entertainment business in one of largest consumer markets in the world. The deal will be closed soon”, sources privy to the matter said. 

The US-based giant has reportedly roped in a leading consulting firm for due diligence over the deal. 

“The deal size is roughly $100 million, $40 million less than what Times Internet invested in Mx Player at the time of acquisition,” sources claimed. 

e4m can’t independently verify the claims. 

Times Internet did not respond to a questionnaire sent to them in this regard early this week despite repeated requests. “We have no comments to offer,” the group representatives told e4m. Amazon's response is awaited.

If the deal really goes through, then Amazon Prime Video is set to grow four times bigger in terms of consumer acquisition. Amazon has an estimated 28 million users in India while MX Player has nearly 78 million users. 

This high-profile deal has the potential to make India’s OTT war intense, especially since the Reliance group has thrown its hat in the game. Viacom18 has played a big gambit by streaming IPL for free over JioCinema for users across all telecom networks in a bid to acquire a maximum number of users, even as it has shelled out Rs 24,000 crore to acquire IPL’s digital media rights for five years. 

Incidentally, MX Player was ranked as the 3rd Most Downloaded OTT App Globally in 2022, in the State of Mobile 2023 report by Data.ai. In India, MX Player was the most downloaded app surpassing Hotstar, Zee 5, Jio TV and Jio Cinema.

MX Player launched as a video player on 18 July 2011 in Korea. In 2019, it was relaunched as an OTT platform with original programming.

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