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Sources reported to Reuters that the European Union’s competition authority unconditionally accepts the $8.5 billion deal.
The acquisition of MGM was announced last May. With this agreement, Amazon will acquire the rights to, among other things, the James Bond film series. According to Amazon, the nearly 100-year-old film studio could play a big role in driving strong demand for streaming content.
Battle between streaming services
The online store group already has its own video service with Prime Video. This puts it in fierce competition with other services such as Netflix, HBO Max and Disney+.
MGM also licenses games, which could help Amazon’s efforts in this area.
Later this month
The European Commission, which is due to make a decision on the deal on March 15, declined to comment to Reuters. Amazon, for its part, said the transaction was subject to regulatory approval and other customary conditions.
The deal is also under investigation in the United States. The watchdog Federal Trade Commission (FTC) said it would fully investigate the acquisition. More information on this is also expected this month.
