Amazon has closed its $8.5 billion deal to acquire MGM.
The online retailer and streaming giant is now home to MGM catalogues of more than 4,000 film titles, including James Bond, Rocky and Thelma & Louise, and 17,000 TV episodes.
“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. “We welcome MGM employees, creators and talent to Prime Video and Amazon Studios, and we look forward to working together to create even more opportunities to deliver quality storytelling to our customers.”
Amazon announced the deal in May 2021, which is seen as a way of helping it compete with rivals such as Netflix and Disney+.
The European Commission approved the deal with no conditions. The US Federal Trade Commission (FTC) did not challenge the deal.
“We are excited for MGM and its bounty of iconic brands, legendary films and television series, and our incredible team and creative partners to join the Prime Video family,” said Chris Brearton, Chief Operating Officer of MGM. “MGM has been responsible for the creation of some of the most well-known and critically acclaimed films and television series of the past century. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.”