Amazon’s talks with MGM bring fresh shine to old movie libraries

James Bond and Rocky Balboa may be past their prime, but a nearly insatiable appetite for content in today’s streaming era has boosted their appeal.

The characters are from a Metro-Goldwyn-Mayer portfolio of movies and shows that has attracted a $9 billion offer from Amazon.com, according to a person familiar with that matter, part of a massive reshuffling of streaming content this week. AT&T is merging its WarnerMedia division with Discovery in a deal that will create a new media company with purportedly more material than Netflix, the market leader in streaming.

The frenzy also is boosting shares of another potential target, Lions Gate Entertainment. The film-and-TV studio jumped 7.3 per cent on Tuesday. Its stock is now up 57 per cent for the year.