The Name’s ‘Zon. Amazon.

📽🎞 Amazon officially closed its $8.45 billion deal to acquire MGM Studios yesterday after the deadline for a challenge from US regulators expired. 

• It's the second-largest deal in Amazon history, trailing only its $13.7 billion purchase of Whole Foods in 2017.
• The acquisition gives Amazon access to 4,000 films and 17,000 episodes of content, including James Bond, Rocky, The Handmaid’s Tale, The Addams Family and other iconic films and shows.
• In a blog post, Amazon said all MGM employees would stay with the company, which will be part of Prime Video and Amazon Studios.

✋ Not so fast… Though the deadline has passed, the FTC still has the ability to challenge Amazon’s acquisition at a later date, provided a majority of the agency is in favor. The FTC is currently split 2-2 along party lines, with one vacancy.

📺 Zoom out: Amazon’s purchase comes as other streaming giants are looking to shake things up.

• This week, AT&T revealed Discovery+ and HBO Max will eventually combine into a single streaming service after Discovery’s merger with Warner Bros., which was approved last month by US regulators.
• On top of a price increase earlier this year, Netflix is also experimenting with charging users an extra fee for sharing accounts with people outside of their households. The new option will be tested in Chile, Costa Rica and Peru in the coming weeks before potentially heading to other countries.