Manish Singh, reporting for Techcrunch:

The two firms reached a definitive agreement for the deal on Wednesday evening, a source familiar with the matter told TechCrunch. The deal values MX Player at less than $100 million, far short of the $500 million valuation at which the streamer raised its last capital, the source, who spoke on condition of anonymity because the companies are yet to publicly comment on the deal, told TechCrunch.

Amazon is acquiring some assets of MX Player, but not the entire firm, which also counts Tencent among its backers.

MX Player has some of the most obscure web-series content that I’ve seen, but also has some good hits like Ek thi Begum, Aani Kay Hava, Pandu, Indori Ishq, etc. From what I’ve seen, MX Player is much more popular in the semi-urban and rural towns than in the metros, so I can see why Amazon was interested in the deal.