Amazon.com, Inc. (NasdaqGS:AMZN) entered into a definitive merger agreement to acquire MGM Holdings Inc. (OTCPK:MGMB) for $8.5 billion, including MGM's debt, on May 26, 2021. Amazon expects to fund the acquisition with cash on hand. The transaction is subject to regulatory approvals and other customary closing conditions. On June 23, 2021, Federal Trade Commission announced that it will review the transaction. As of July 10, 2021, US Federal Trade Commission, headed by Lina Khan has opened a probe into Amazon's acquisition of MGM. As of December 16, 2021, ACCC has announced it will not oppose the proposed acquisition of MGM by Amazon, saying the deal was “unlikely to substantially lessen competition in any market in Australia. EU antitrust regulators will decide by March 15, 2022 whether to clear Amazon's proposed acquisition of MGM The investigation sets the stage for a lengthy probe that could last six months or more. As of March 15, 2022, the European Commission has approved the transaction. Jeffrey Marell, Brian Lavin, Cullen Sinclair, David Huntington, Caith Kushner, Jason Tyler; Jarrett Hoffman, Lawrence Witdorchic, Meghan Fox, Aidan Synnott, Jay Cohen, Charles Googe, Brian Krause, Peter Fisch, Yuni Sobel, Marta Kelly and William O'Brien of Paul, Weiss, Rifkind, Wharton & Garrison LLP and Kendall Johnson, Rick Offshay and Jason Silvera of Latham & Watkins LLP acted as legal advisors and Aryeh Bourkoff and Ben Braun of LionTree Advisors, LLC and Michael Grimes, Brian Stearns, Lesley Freeman and Jeffrey Hogan of Morgan Stanley acted as financial advisors to MGM Holding Inc. Erik Tavzel, Eric W. Hilfers, J. Leonard Teti II, David J. Kappos and Andrew Elken of Cravath, Swaine & Moore LLP acted as legal advisors to Amazon. Paul Shim of Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Anchorage Capital Group, L.L.C. David Hernand and Steve Camahort of Paul Hastings LLP acted as legal advisors for MGM Holdings Inc. Matthew C. Thompson of Sidley Austin LLP acted as legal advisor to MGM Holdings Inc.

Amazon.com, Inc. (NasdaqGS:AMZN) completed the acquisition of MGM Holdings Inc. (OTCPK:MGMB) on March 17, 2022. MGM has joined Prime Video and Amazon Studios. Highland Funds I - Highland Income Fund, a fund managed by Highland Capital Management, L.P. received $73,284,758 in cash, reflecting the Fund's direct ownership of MGM shares. As of November 28, 2022, Mark Burnett exits as Chairman of the Board of Directors of MGM Global Television