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Amazon closes $8.5B deal to acquire Hollywood studio MGM

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Amazon has closed its $8.5 billion acquisition of Hollywood studio MGM, two days after European regulators said the deal “would not significantly reduce competition” in European markets.

MGM is one of the oldest studios in Hollywood. The retail giant said in a blog post Thursday MGM has more than 4,000 film titles, 17,000 TV episodes and awards that will complement Prime Video and Amazon Studios’ work.

Amazon plans to draw on the vast MGM library, with famous characters such as Rocky, RoboCop and Pink Panther, to create new movies and shows.

 

Source: AP – All contents copyright 2022 Associated Press.  All rights reserved.

 

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