Amazon Wins EU Approval for $8.45 Billion MGM Film Studio Purchase
- Movie deal poses no competition concerns in 27-nation EU
- Streaming services pressed Amazon to acquire more programming
Photographer: Muhammed Selim Korkutata/Anadolu Agency/Getty Images
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Amazon.com Inc. won unconditional approval from the European Union for its plan to buy the Metro-Goldwyn-Mayer movie company for $8.45 billion, a bet that a nearly century-old Hollywood icon can feed an insatiable demand for streaming content.
The deal poses no competition problems in the 27-nation EU, the bloc’s commission said in an emailed statement Tuesday.