Amazon has been interested in acquiring one of India’s largest video streaming services, MX Player, by opening talks with Times Internet, a division of Times Group, India’s largest media conglomerate, which bought the service for $140 million in 2018 bought.
About it informed TechCrunch resource linking to informed sources. The terms of the deal are still being negotiated, and it’s possible that Amazon and Times Internet will never reach an agreement. At least two other companies have expressed interest in acquiring MX Player: Zee and Sony Group Corp., sources said.
The MX Player video player has gained popularity due to its support for a wide range of video formats and the ability to use it on entry-level Android smartphones. It has over 300 million users worldwide including over 150 million active users in India.
MX Player is widely used in the country due to its extensive video catalog and free access to cable TV channels. The service gets most of its revenue from advertising.
Over the past 10 years, Amazon has invested more than $7 billion to expand its presence in India and has long sought to capture a share of the Indian video market.