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Amazon closes $8.5 billion deal to buy MGM movie studio

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Yahoo Finance's Brian Cheung reports Amazon has closed its $8.5 billion deal to buy Hollywood studio MGM.

Video Transcript

BRIAN CHEUNG: Well, we want to move on to another headline in the Hollywood space. Amazon making a deal fit for the movies. The e-commerce giant just closed its $8.5 billion buy of movie production studio, MGM. It was cleared by an EU antitrust review, which found limited overlap between the online retailer and the studio. That greenlight would give the deal-- would bring MGM's expansive content library, including the James Bond franchise and Rocky movies, to Amazon's services.