Amazon closed its acquisition of MGM on Thursday. More than 4,000 films and 17,000 TV shows will become part of Prime Video once the transaction is complete. James Bond and the series "Rocky" are included on the list.
The European Union's antitrust regulators gave the go-ahead to the deal two days ago. The deal wouldn't reduce competition because of the limited overlaps between MGM and Amazon. The deadline for the Federal Trade Commission to challenge the merger has expired, and Amazon has moved forward with the transaction.
The senior vice president of Prime Video and Amazon said that they share the same commitment to delivering a broad slate of original films and television shows to a global audience.
With the launch of studio streaming platforms like Disney+, the deal will likely result in content being pulled from competing services once existing contracts end.
Chris Brearton, the chief operating officer of MGM, said in a statement that they are excited for MGM and its bounty of icons, legendary films and television series. We look forward to continuing that tradition as we head into this next chapter, coming together with the great team at Prime Video and Amazon Studios to provide audiences with the very best in entertainment for years to come.
MGM has experienced more challenges than Amazon has. The studio filed for Chapter 11 in 2010 after changing hands several times. The studio was reorganized.
The nearly century-old studio will complement Prime Video and Amazon Studios, which will create more quality entertainment options for subscribers.
Amazon has made an aggressive push into original content through its own production studio and distribution. It has produced a number of notable titles on the film side. The company is going to release a series based on The Lord of Rings on September 2nd. The series will be a part of Prime Video's current roster of popular shows.
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