Amazon is talks with Times Internet, which bills itself as India’s largest digital products company, on the possibility of buying MX Player, one of the country’s largest on-demand video streaming services, according to a report by TechCrunch, which cited four sources and said the American e-commerce group wants to expand its entertainment services in a key overseas market.
Times India bought MX Player in 2018 for $140 million and the site – “popular for supporting a wide range of video formats and reliability on low-cost Android smartphones” – has grown with original content in recent years and now has over 300 million users around the world, it said, but the sources warned that talks are ongoing and may not end in a deal.
Read the full report: TechCrunch.
ALSO SEE:
Amazon to Shut Down Kindle E-Book Business in China
Amazon’s Battle with Reliance for Indian Retail Supremacy
Alibaba Sells Final Stake in India’s Paytm For $167 Million
