Amazon in talks to acquire Times Internet's MX Player

Amazon is in advanced talks to acquire Times Internet-owned video streaming platform - MX Player. 

According to media reports, Amazon has hired one of the big four accounting firms to carry out the deal which could materialise in a couple of months. 

Currently, it is unclear as to how much the potential buyer is looking to pay for MX Player. Both the players have remained tight lipped and have not disclosed anything about the deal as of yet.

Notably, Times Internet recently sold some of its businesses like Dineout to Swiggy and MensXP and iDiva as well.

The development comes when the Indian OTT industry is on a boom.

Times Internet acquired MX Player in 2018 for $140 million. MX Player launched as a video player on July 18, 2011. Later in 2019, it pivoted to an OTT streaming platform, catering primarily to the Indian audience. 

MX Player was also one of the earliest video apps to expand into the short video format by launching MX Takatak, which eventually merged with ShareChat’s short video offering Moj in a deal worth $900 million.

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