Amazon said Thursday that it was closing an $8.5 billion deal to buy MGM, combining the legendary filmmaker behind Rocky and james-bond with the internet sales giant, as it seeks to attract consumers through more streaming video.

in a blog, amazon said he would welcome all MGM employees to the company and work with studio management, stating that there would be no layoffs.

The decision to close the operation occurs after the term has expired for the Federal Trade Commission of the United States challenges the agreement.

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