Amazon completes its $8.45 billion takeover of MGM2022-03-17 19:53 by Daniela
Tags: Amazon, MGM
Amazon has closed its $8.5 billion deal to acquire MGM, the home of the Bond franchise and one of the most iconic movie studios in Hollywood history.
"MGM has a nearly century-long legacy of producing exceptional entertainment, and we share their commitment to delivering a broad slate of original films and television shows to a global audience," Mike Hopkins, SVP of Prime Video and Amazon Studios, said in a statement.
The move comes after Amazon certified to the Federal Trade Commission that it had provided all the information requested by antitrust investigators reviewing the deal. That step put the deal on a regulatory clock with the agency that has now expired, leaving the company free to move forward, a person familiar with the matter said.
Amazon provided the FTC with more than three million documents over the past eight months as part of the review process, the person familiar with the matter said.
European Union antitrust regulators unconditionally approved the deal this week. They determined there wasn't a great deal of overlap between the two companies, and that "MGM's content cannot be considered as must-have" compared with other studios.
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