In an announcement, Amazon mentioned it could welcome all MGM workers to the corporate and work with the studio’s management, indicating there wouldn’t be layoffs. Its determination to shut comes after a deadline handed for the U.S. Federal Commerce Fee to problem the deal.
The Seattle-based retailer introduced the transaction in Could 2021, saying MGM supplied a trove of content material to attract customers to its fast-shipping and streaming membership Prime, which prices $14.99 per thirty days in the US.
Practically a yr later, Amazon is evident of regulatory hurdles. The European Fee authorised the deal Tuesday, with no circumstances. Likewise, Amazon earlier knowledgeable the FTC that it had “considerably complied” with requests for details about the deal.
In response to Amazon, MGM’s employees will be a part of the group of Mike Hopkins, senior vp of Prime Video and Amazon Studios.
MGM bolsters Amazon Prime Video’s providing with greater than 4,000 movie titles, in addition to this yr’s Oscar-nominated “Licorice Pizza” and a protracted checklist of tv reveals which will assist Amazon compete with streaming rivals Netflix and Disney+
Hopkins praised MGM’s “broad slate of authentic movies and tv reveals.”
“We welcome MGM workers, creators, and expertise to Prime Video and Amazon Studios, and we look ahead to working collectively,” he mentioned in an announcement.
An FTC spokeswoman declined to touch upon the precise transaction however famous that the company could problem a deal after it closes “if it determines that it violates the regulation.”
The FTC has a broader probe open into Amazon as a part of authorities antitrust investigations begun underneath the Trump administration into the 4 massive tech platforms, together with Fb and Google.
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