Home Lifestyle Amazon closes its $8.45 billion acquisition of movie studio MGM

Amazon closes its $8.45 billion acquisition of movie studio MGM

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Amazon said that it closed its acquisition of MGM, in an $8.45 billion deal that will allow the e-commerce giant to expand its TV and movie offerings.

Amazon said that it closed its acquisition of MGM, in an $8.45 billion deal that will allow the e-commerce giant to expand its TV and movie offerings. REUTERS/Paulo Whitaker/File Photo

AMAZON said that it closed its acquisition of MGM, in an $8.45 billion deal that will allow the e-commerce giant to expand its TV and movie offerings.

The company’s announcement came after a regulatory waiting period expired at the Federal Trade Commission, which has signaled it would take a tougher line on tech acquisitions under the leadership of chair Lina Khan.

“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,” said Mike Hopkins, senior vice president of Prime Video and Amazon Studios.

Earlier this week, European regulators approved the deal, saying that its investigation found the deal “would not significantly reduce competition” in relevant video markets.

FTC spokeswoman Betsy Lordan declined to comment on the deal.

WASHINGTON POST

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