Amazon to acquire MGM | EU updates disinformation rules

Amazon will acquire MGM Studios for $8.45 billion, the e-commerce giant announced Wednesday.

The deal for the entertainment studio is the second largest in Amazon’s history, behind its $13.7 billion acquisition of Whole Foods in 2017.

It is a sign of Amazon’s ambitions in the streaming market and will boost its Prime Video offerings.

“The real financial value behind this deal is the treasure trove of IP in the deep catalog that we plan to reimagine and develop together with MGM’s talented team,” Mike Hopkins, senior vice president of Prime Video and Amazon Studios, said in a statement. “It’s very exciting and provides so many opportunities for high-quality storytelling.”

The acquisition could heighten existing antitrust scrutiny on Amazon.

Senate antitrust subcommittee Chair Amy Klobuchar (D-Minn.) on Wednesday called on regulators to conduct a “thorough investigation” into the proposed acquisition “to ensure that this deal won’t risk harming competition.”