Amazon clarifies on MX Player buyout: Have bought some assets, not the entire company

Refuting media reports on last stages of negotiations for its all-cash deal to acquire MX Player, Amazon has clarified that it has signed an agreement to purchase some assets from MX Player, and not the entire company. However, the transaction is not yet complete.

There were reports in the media last week that Amazon is all set to acquire video streaming platform MX Player from Times Internet for over $100 million. MX player is currently led by Karan Bedi as its CEO.

It was reported that post the acquisition, the senior management of MX Player will join Amazon.

In response to a query by Adgully, an Amazon spokesperson said, “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.”