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Amazon.com closes deal to buy MGM — blog -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A smartphone with the Amazon logo can be seen facing the MGM logo displayed in this illustration. It was taken on May 26, 2021. REUTERS/Dado Ruvic/Illustration

WASHINGTON (Reuters – Amazon.com Inc. (NASDAQ:) said on Thursday it would close its $8.5 billion purchase of MGM. The deal combines the storied movie studio behind James Bond (Rocky) and Amazon.com Inc. with the internet retailing company as it seeks to increase streaming video.

Amazon stated in a blog that it will welcome MGM employees and collaborate with its leadership. This indicates there won’t be any layoffs. After a deadline was met by the U.S. Federal Trade Commission for challenging the deal, Amazon decided to close.

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