Amazon to purchase some assets of MX Player
Amazon has signed an agreement to acquire some assets from the Times Internet-owned streaming platform MX Player. The transaction is, however, not yet complete.
ADVERTISEMENT
The e-commerce giant Amazon has signed an agreement to purchase some of the assets from Times Internet-owned streaming platform MX Player. The transaction is, however, not yet complete.
“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” an Amazon spokesperson said.
The move is expected to bolster Amazon’s ad-supported streaming service miniTV, which is currently available as a free service within the flagship shopping app on Android and iOS. Last year, Amazon launched a standalone mobile app for miniTV.
The news of Amazon acquiring MX Player first surfaced last year but was later called off because of the valuation mismatch.
MX Player, the video streaming and video-on-demand platform currently operates on an ad-supported model. In 2018, Times Internet acquired a majority stake in MX Player for $140 million.
As per Entrackr, the MX Player team will join miniTV and its Chief Executive Officer Karan Bedi most probably would join as the Director.
