Amazon Takes Another Step To Aquire MGM

Amazon cleared a big hurdle to its growth when European regulators granted the company unconditional EU antitrust approval for its proposed $8.5 billion acquisition of U.S. movie studio MGM. Amazon has been working to get the rights to the MGM film library which is famously the home of Hollywood classics as well as the James Bond bond franchise that is still going strong. The company which includes streaming among many other services as part of Amazon Prime is making the move to grow its library of content as well as add intellectual property that can be used to develop original series and content.

The European Commission felt that the move would not give Amazon an unfair advantage in the marketplace as far as streaming.

“The addition of MGM’s content into Amazon’s Prime Video offer would not have a significant impact on Amazon’s position as provider of marketplace services,” the Commission said.