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Amazon Completes Its $8.45 Billion Acquisition Of MGM

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LOS ANGELES (CelebrityAccess) — As the scramble for streaming content continues, Amazon announced it has completed a $8.45 billion deal to acquire the venerable MGM Movie studio and its assets.

The deal will bring MGM’s catalog of more than 4,000 films, including the James Bond and Rocky franchises, as well as hits such as Poltergeist, Spaceballs, The Silence of the Lambs, The Magnificent Seven, and Raging Bull Get Shorty, Shaft, and The Hobbit: An unexpected journey.

Television shows such as Fargo, Stargate: Atlantis, The Handmaid’s Tale, Teen Wolf, and Vikings.

Competition regulators in the European Union signed off on the deal this week, noting that there was little overlap between Amazon and MGM from a competitive standpoint.

The acquisition faced little regulatory scrutiny in the U.S., despite growing concerns among lawmakers about the increasing concentration of the entertainment industry.

“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.”

“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.”

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