Amazon is in discussions to acquire the nearly century-old MGM movie studio in what would be its biggest push into entertainment yet, according to reports. MGM, the Hollywood company behind the James Bond series, would help bolster Amazon’s Prime streaming service. Amazon is weeks into negotiations to buy the studio for about $9bn (£6.4bn), according to Variety. MGM and Amazon declined to comment. MGM has been seen as a takeover target for years, but was never able to close a sale. The company made a fresh push last year, when it reportedly hired advisers to solicit offers. In seeking a deal, MGM aims to capitalise on the proliferation of streaming services, which has increased demand for large backlogs of content, and has also discussed other scenarios with tech giants. MGM, whose library includes the Rocky films and Silence of the Lambs, also held talks with Apple and Netflix about taking its new James Bond film directly to streaming. But the company said last year that it’s committed to a theatrical release for the film, which is currently slated for October 8 in the US. Amazon, meanwhile, is reshuffling its entertainment operations with the return of long-time executive Jeff Blackburn. He briefly left the e-commerce company to join Silicon Valley venture capital firm Bessemer Venture Partners. But now he is taking command of Amazon’s entire entertainment division, including the Prime Video streaming service, Amazon Studios and the video-game-streaming site Twitch. MGM traces its roots back to the 1920s merger of Marcus Loew’s Metro films with a film company run by Hollywood legend Louis Mayer. While making great pictures like Dr. Zhivago and 2001: A Space Odyssey, MGM drifted in and out of financial distress in the second half of the 20th century. Over the decades it was owned by Time, CNN founder Ted Turner and more than once by the late billionaire Kirk Kerkorian. Amazon has been rumoured to buy entertainment companies before. It was previously seen as a possible buyer of AMC Entertainment Holdings, the movie theatre chain, with some investors confusing it with AMC Networks, the owner of cable channels. Investors suffered a similar sort of confusion on Monday, with the Information report boosting shares of MGM Resorts International, a casino company that isn’t part of MGM. MGM Resorts stock jumped as much as 5.8pc in late trading before quickly retreating.