Amazon Closes $8.5 Billion Acquisition of MGM

Amazon has closed its $8.5 billion acquisition of MGM, the companies said Thursday. From a report: The pact was first announced in May and has been winding its way through the regulatory process. Per Amazon, "The storied, nearly century-old studio -- with more than 4,000 film titles, 17,000 TV episodes, 180 Academy Awards, and 100 Emmy Awards -- will complement Prime Video and Amazon Studios' work in delivering a diverse offering of entertainment choices to customers." The completion of the transaction comes two days after the Amazon-MGM deal received clearance from the European Union's antitrust regulator, which "unconditionally" approved Amazon's proposed acquisition of MGM, in part because "MGM's content cannot be considered as must-have." The European Commission, in its antitrust review, found that the overlaps between the Amazon and MGM businesses are "limited."

Read more of this story at Slashdot.