Time Internet acquired MX Player in 2018.
American tech major Amazon is reportedly planning to acquire Indian video streaming platform MX Player in a bid to expand its foot in the OTT segment in Asia’s third largest economy. According to a report by TechCrunch, deliberations between the two companies are still underway and the terms of the deal are yet to be finalized.
Reports also pointed to the possibility that the deal to acquire the Times Internet-owned platform may not materialize. Additionally, at least two other players including Zee and Sony have also expressed interest in acquiring MX Player.
There has been no official confirmation from any of the involved parties.
Time Internet acquired one of India’s oldest video platforms – MX Player – in 2018 for $140 million. The Indian app now has amassed over 300 million users globally. The company claims to have 150 million active users in India, the TechCrunch report added.
On the other hand, Amazon offers Prime membership for accessing its OTT content and has deployed over $7 billion in the country in the last 10 years. It has more than 500 million downloads on Google Play Store.
TechCrunch last month reported that Amazon is testing cheaper, ad-supported Prime Lite membership in India for Rs 999 a year. A new subscription is currently available as a Beta version to only select Prime members in the country.