"We acquired only few assets of MX Player, not entire company", confirms Amazon
As we reported last week that Amazon is very close to buying Times Internet’s MX Player. The global E-commerce giant has now confirmed that it has acquired MX Player’s assets in part. According to the Amazon has agreed to acquire some MX Player assets. However, the transaction has not yet been concluded.
Responding to the queries of Entrackr, the spokesperson of Amazon says, “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”.
As referenced above, it had posted that Amazon was near procuring MX Player and the forms of the arrangement have been chalked out. MX Player was estimated to be worth between $50 million and $100 million, according to sources.
MX Player’s chief executive officer, Karan Bedi, is likely to join Mini TV as a director, according to sources.
But Amazon’s official position suggests that the company intends to integrate MX Player’s intellectual property with Mini TV and Amazon Prime.
However, its accentuation on not securing the whole organization proposes that it would rather not cover liabilities and different sides of MX Player’s business. In case you were unaware, MX Media owns MX Player and also operates the short video entertainment app MX TakaTak. The TikTok-related platform merged with Google-led ShareChat in February 2022.
