Amazon Wins EU Nod for $8.45 Billion MGM Studio Deal (1)

Amazon.com Inc. won unconditional approval from the European Union for its plan to buy the Metro-Goldwyn-Mayer movie company for $8.45 billion, a bet that a nearly century-old Hollywood icon can feed an insatiable demand for streaming content.

The deal poses no competition problems in the 27-nation EU, the bloc’s commission said in an emailed statement Tuesday.

The proliferation of streaming services, including newer arrivals such as HBO Max and Disney+, has put pressure on Amazon to acquire more programming. Amazon founder Jeff Bezos made no secret of his desire to get into movies, and MGM’s vast backlog provides an abundance ...