By Karuna Thapa
Kathmandu, March 18
On Thursday, Amazon.com Inc announced the completion of its $8.5 billion acquisition of
MGM, bringing together the legendary film studio behind ‘Rocky’ and James Bond with the online retailing giant as it seeks to attract more customers through streaming video.
Amazon said in a statement that it would welcome all MGM employees and work with the
studio’s leadership, implying that there would be no layoffs. It made the choice to close when the time for the US Federal Trade Commission to file a lawsuit against the agreement passed.
The transaction was authorized by the European Commission on Tuesday, with no strings
attached. Similarly, Amazon told the FTC earlier this year that it had ‘largely cooperated’ with demands for information regarding the acquisition.
MGM’s employees will join Mike Hopkins, senior vice president of Prime Video and Amazon Studios, at Amazon, according to the company.
