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Amazon May Acquire MX Player

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Amazon is in discussions to explore the acquisition of MX Player, a leading on-demand video streaming service in India.

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The talks are ongoing and may not result in a deal.

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At least two more players, including Zee-Sony, have expressed interest in acquiring MX Player.

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MX Player was acquired by Times Internet for $140 million in 2018.

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The video app has over 300 million users globally and makes most of its revenue through ads.

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MX Player expanded into short-video format after TikTok was banned in India.

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Times Internet is preparing for a major restructuring and has sold off several businesses.

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Amazon has deployed over $7 billion in India in the past decade and offers Prime Video and a free ad-supported video service in the country.

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MX Player competes with YouTube, Hotstar, and Netflix in India, with over 150 million active users in the country.

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MX Player was last valued at $500 million after receiving an investment of $110.8 million in 2019 led by Tencent.

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