Amazon in final stages of acquiring MX Player from Times Internet for over $100M

After months of delays and speculation, e-commerce giant Amazon is in the final stages of acquiring the video streaming platform MX Player from Times Internet.

According to media reports, Amazon is acquiring MX Player in an all-cash deal for slightly over $100 million. Following the acquisition, MX Player’s senior management will join Amazon. This news comes after nearly a year of MX Player, facing financial constraints, being on the market for a potential buyer.

MX Player was launched by a South Korean company, J2 Interactive, as a mobile video player in 2011. It was known for its versatility and offline playback. In 2018, Times Internet acquired it for $140 million. MX Player then transformed into an ad-supported streaming service in 2019, even scoring a big investment from Tencent. It offers original content alongside licensed shows and movies from various Indian and international studios.

However, by 2023, the platform faced financial challenges.
Times Internet has been divesting its assets for some time now. Last year, it sold MX Takatak, Dineout, MensXP, iDiva, and Hypp.