The acquisition will strengthen Amazon’s streaming business with more than 4,000 film titles – including classics from the blockbuster series “James Bond” and “Rocky” – as well as numerous TV series, the company said.
A period had previously expired in which the US competition regulator FTC could have challenged the deal. The EU antitrust authorities approved the takeover agreed in June 2021 for around 8.45 billion dollars (currently 7.6 billion euros) on Tuesday without conditions. In theory, the FTC could still object after the deadline. However, this is now considered to be much less likely.
MGM is almost 100 years old and one of the most traditional film studios – known for its lion mascot, which roars in the opening credits of many Hollywood films. For Amazon, it is the second-largest acquisition to date after the takeover of the supermarket chain Whole Foods. Above all, the online giant wants to upgrade its streaming division, which competes with Netflix and Disney+, among others.
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