Amazon Consummates MGM Deal Post Clean Chit From Regulators

March 17, 2022 11:42 AM | 1 min read | Make a Comment

Amazon.com Inc AMZN closed the $8.5 billion acquisition of film studio Metro-Goldwyn-Mayer after a clean chit from the U.S. FTC and EU.
The EU contended that the deal would not hamper competition as the two companies did not significantly overlap in content production, the Wall Street Journal reports.
The FTC also did not take any action to block the deal.
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In May, Amazon agreed to acquire MGM firing up rivalry with the likes of Netflix Inc NFLX.
The MGM takeover marked Amazon's biggest acquisition since Whole Foods.
Price Action: AMZN shares traded higher by 0.99% at $3,092.52 on the last check Thursday.