Amazon already owns MGM and will integrate its catalog with Prime Video

Amazon has completed the acquisition of MGM, so it will soon add the major studio’s catalog to its Prime Video service. The transaction, valued at $8,450 million, was approved this week by the European Union’s antitrust regulator.

Agree with Varietythe European Commission gave the green light to the takeover of MGM because its content is not considered essential. In the eyes of the EU, the acquisition of Metro Goldwyn Mayer would not create competition concerns and the overlap between Amazon’s and MGM’s businesses is limited.

Although the United States Federal Trade Commission may still not approve the transaction, all indications are that it will not take place. The US agency has a deadline this month to challenge, although legal experts say it could do so once the purchase is consummated.

The purchase agreement between Amazon and MGM was announced in May 2021. With this, Amazon is not only made of a catalog that includes more than 4,000 films and 17,000 episodes of TV series, as well as all franchise rights.

Mike Hopkins, vice president of Prime Video and Amazon Studios, said at the time that “the real financial value of this deal is the treasure trove of intellectual property they plan to reinvent and grow with MGM.”