BRUSSELS, Belgium: European regulators have approved Amazon’s acquisition of Hollywood studio MGM, stressing that the sale does not raise any competition concerns.
In 2021, Amazon said it bought MGM in a $ 8.45 billion deal to broaden its video streaming service with more content.
According to its inquiry, the European Commission, the EU’s executive arm, said sales “would not significantly reduce competition” in European markets, including for film and television production.
The Commission added that although they hold the rights to successful franchise agreements, including James Bond, MGM can not be considered a “must” and is “not among the best production studios.”
MGM, one of the oldest studios in Hollywood, has faded in height over the years, but still has a large library, with famous characters like Rocky and RoboCop, which Amazon said they would use to create new movies and shows.
Source: sn.dk