FILE PHOTO: Smartphone with Amazon logo is seen in front of displayed MGM logo in this illustration taken, May 26, 2021. REUTERS/Dado Ruvic/Illustration
March 17, 2022
WASHINGTON (Reuters) – Amazon.com Inc on Thursday said it was closing its $8.5 billion deal to buy MGM, combining the fabled movie maker behind “Rocky” and “James Bond” with the online retailing giant as it looks to draw consumers through more streaming video.
In a blog post, Amazon said it would welcome all MGM employees to the company and work with the studio’s leadership, indicating there would not be layoffs. Its decision to close comes after a deadline passed for the U.S. Federal Trade Commission to challenge the deal.
(Reporting by Diane Bartz)
Source: One America News Network
