Amazon closes $8.45B MGM studio acquisition

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Amazon has closed its $8.45 billion acquisition of MGM Studios as it looks to boost its streaming service in competition with Netflix and Disney.

The move will allow Amazon to leverage MGM's catalog of more than 4,000 film titles and 17,000 TV episodes, including franchise favorites such as "James Bond," "Rocky" and "Creed," and classics such as "Thelma & Louise," "The Silence of the Lambs," "The Magnificent Seven" and "Raging Bull."

The deal, which was first announced in May 2021, closed without being challenged by the Federal Trade Commission. "Amazon has a well-documented history of leveraging its dominance in e-commerce to gain market share in vertically-adjacent markets using a range of unfair and anticompetitive practices," the group"Amazon’s current practices in SVOD and related markets – including leveraging e-commerce power to build SVOD market share, offering Prime video at below market prices, and exclusionary use of its dominance in the streaming device and cloud computing markets – already raise serious...

 

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Amazon owns James Bond now.

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Amazon closes $8.45B MGM acquisitionAmazon has closed its $8.45 billion acquisition of Metro-Goldwyn-Mayer Studios as it looks to boost its streaming service offerings to compete with entertainment rivals like Netflix and Disney. Tom&Jerry made this logo famous.
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