Amazon closed its $8.5 billion deal to buy MGM. The e-commerce giant had announced the transaction in May 2021, saying MGM offered a trove of content to draw consumers to its fast-shipping and streaming club Prime
WASHINGTON, March 17 - Amazon.com Inc on Thursday said it had closed its $8.5 billion deal to buy MGM, combining the fabled moviemaker behind "Rocky" and James Bond with the online retailing giant as it looks to draw consumers through more streaming video.
The Seattle-based retailer announced the transaction in May 2021, saying MGM offered a trove of content to draw consumers to its fast-shipping and streaming club Prime, which costs $14.99 per month in the United States.Nearly a year later, Amazon is clear of regulatory hurdles. The European Commission approved the deal Tuesday, with no conditions. Likewise, Amazon earlier informed the FTC that it had "substantially complied" with requests for information about the deal.
MGM bolsters Amazon Prime Video's offering with more than 4,000 film titles, as well as this year's Oscar-nominated "Licorice Pizza" and a long list of television shows that may help Amazon compete with streaming rivals Netflix and Disney+"We welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and we look forward to working together," he said in a statement.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon closes $8.5B deal to acquire Hollywood studio MGMAmazon plans to draw on the vast MGM library, with famous characters such as Rocky, RoboCop and Pink Panther, to create new movies and shows.
Read more »
Amazon closes $8.45B MGM acquisitionAmazon has closed its $8.45 billion acquisition of Metro-Goldwyn-Mayer Studios as it looks to boost its streaming service offerings to compete with entertainment rivals like Netflix and Disney.
Read more »
Amazon closes $8.5B deal to acquire Hollywood studio MGMAmazon plans to draw on the vast MGM library, with famous characters such as Rocky, RoboCop and Pink Panther, to create new movies and shows.
Read more »
Amazon Finalizes Deal to Acquire MGM for $8.5 BillionThe merger will combine Amazon Studios’ primarily TV-focused brand with MGM, home to legacy franchises including James Bond and ‘Rocky.’
Read more »
Amazon Closes MGM Deal For Astronomical AmountAmazon has closed their MGM deal for an absolutely absurd amount of money. Both companies [...]
Read more »