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Amazon completes acquisition of Hollywood movie studios

Amazon completes acquisition of Hollywood movie studios

US online retailer Amazon has completed a multi-billion dollar purchase of Hollywood movie studio Metro-Goldwyn-Mayer (MGM). The company said the acquisition will boost Amazon’s streaming business with more than 4,000 movies — including classics from the groundbreaking “James Bond” and “Rocky” series — as well as several TV series.

It had previously ended a period during which the US competition regulator, the FTC, could challenge the deal. EU antitrust authorities had approved the acquisition deal agreed in June 2021 for $8.45 billion (currently €7.7 billion) on Tuesday without conditions. In theory, the FTC can still object after the deadline. However, this is now considered less likely.

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