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Amazon closes $8.45bn deal to acquire film studio MGM

Competition regulators decline to block move despite worries over ecommerce group’s size

Amazon has closed its deal to acquire film studio MGM after US and European competition regulators declined to block the move, despite growing concern over the ecommerce giant’s size.

The $8.45bn acquisition, which includes debt, is Amazon’s largest ever in the media space and its biggest of any kind since the $13.7bn purchase of Whole Foods in 2017.

It brings into Amazon a host of entertainment content, including the rights to the James Bond franchise, allowing it to gain ground on the huge libraries of Netflix, HBO and other streaming players.

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