EU regulators clear Amazon’s $8.45 billion purchase of MGM

LONDON (AP) — European regulators have cleared Amazon’s purchase of Hollywood studio MGM, saying the deal doesn’t raise any competition concerns. The online shopping giant said last year that it was buying MGM in a $8.45 billion deal aimed at bulking up its video streaming service with more content to watch. The European Commission said Tuesday that its investigation found the deal “would not significantly reduce competition” in European markets, including for movie and TV production and wholesale supply of TV channels. The commission said MGM’s content can’t be considered “must-have” and it’s “not among the top production studios,” despite holding the rights to successful franchises including James Bond.