MGM is now part of Amazon

Image: Metro Goldwyn Mayer

Without a public response from the FTC, Amazon's purchase of MGM is complete. The Wall Street Journal reported earlier this month that Amazon had given all the necessary information to the FTC and that it would close the deal by the end of the month.

The European Union's antitrust commission gave the green light to Amazon's purchase.

Amazon's acquisition of the entertainment giant behind James Bond, Rocky, The Addams Family, The Handmaid's Tale, and a host of other shows and movies should help bolster the company's existing Prime Video library. Amazon senior vice president Mike Hopkins said in a statement that they welcome MGM employees, creators, and talent to Prime Video and Amazon Studios, and they look forward to working together to create even more opportunities to deliver quality stories to our customers.

The addition of MGM's massive collection may help Amazon get an edge over other streaming services. Prime subscribers pay a fee of $139 per year to gain access to over 26,000 movies and 2,700 series on Prime Video, along with other perks like free two-day shipping on purchases from the site.

As other media conglomerates are looking to change things in the streaming industry, this news comes as a surprise. Last year, AT&T announced that it was merging WarnerMedia with Discovery in a move that would encompass shows from major networks. The merger was approved by the US government in February and will result in the creation of a single app.