According to BMA Sources, Amazon.com has invested US$8.5 billion in Metro-Goldwyn-Mayer. This acquisition is Amazon’s most significant purchase in five years.
According to the parties involved in the deal, this undertaking is a notable achievement by the U.S. Tech company after clash backs that the corporation is targeting micro-companies that fail to stand against fellow competitors.
European Union regulators signed off on the acquisition on Tuesday without contesting from the competition.
The Federal Trade Commission in the U.S did not oppose the acquisition before it was signed off. The Commission, however, is still able to impose restrictions should a lawsuit be filed by commissioners.
In May, the company ventured to buy MGM to increase its streaming content, one of the rewards of membership in the company’s Prime delivery service.
Between 2020 and 2021, Amazon spent a combined $24 billion on video and music for its streaming services.
MGM is the producer of the venerable James Bond franchise producer, increasing a back catalogue of 25,000 hours that Amazon could distribute between its Prime Video content or its free-to-stream, ad-supported IMDb TV.
This is Amazon’s biggest acquisition since it agreed to buy Whole Foods in 2017 for $13.7 billion.
Amazon has also grabbed newcomers in new business lines, such as Twitch or Kiva’s game platform, making warehouse robots. In addition, Biden has placed Khan as head of the Federal Trade Commission in the U.S.