Amazon To Buy Some Assets Of MX Player
When rumours of Amazon buying MX Player originally started to circulate last year, they were eventually withdrawn due to an inconsistency in valuation
An agreement has been made by online retailer Amazon to buy part of the assets from the streaming platform MX Player, currently owned by Times Internet. The deal, however, is yet to finalise.
“We are always looking for ways to introduce new products and services that help improve customers’ lives. We’re excited to continue to entertain India with the great local originals and exclusive content available across our Prime Video and miniTV services in India” an Amazon spokesperson said.
The move is anticipated to strengthen miniTV, Amazon's ad-supported streaming service, which is presently offered for free inside the company's main shopping app for iOS and Android. Amazon released a stand-alone smartphone app for miniTV last year.
When rumours of Amazon buying MX Player originally started to circulate last year, they were eventually withdrawn due to an inconsistency in valuation.
The video streaming and video-on-demand platform MX Player currently uses an ad-supported business model. For $140 million in 2018, Times Internet purchased the bulk of MX Player.
According to Entrackr, the MX Player team is set to join miniTV, with its CEO, Karan Bedi, likely taking on the role of Director.
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