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3/17, 2:48 PM (Source: TeleTrader)
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Amazon closes $8.45B agreement with MGM

Amazon.com Inc. has closed an $8.45 billion deal, which opens the opportunity to acquire MGM film and TV studios, as unveiled by the company on Thursday. The deal was made possible after the deadline for a lawsuit by US regulators expired.

"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," said Mike Hopkins, Senior Vice President of Prime Video and Amazon Studios.

Previously on Wednesday, the European Commission had approved Amazon's proposed acquisition of MGM Studios. MGM has a catalog of more than 4,000 film titles, 17,000 television episodes, 180 Academy Awards, and 100 Emmy Awards.

Baha Breaking News (BBN) / JG