Amazon has closed its deal to acquire film studio MGM after US and European competition regulators declined to block the move, despite growing concern over the ecommerce giant’s size.

The $8.45bn acquisition, which includes debt, is Amazon’s largest ever in the media space and its biggest of any kind since the $13.7bn purchase of Whole Foods in 2017.

It brings into Amazon a host of entertainment content, including the rights to the James Bond franchise, allowing it to gain ground on the huge libraries of Netflix, HBO and other streaming players.

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The closing of the MGM deal will not alleviate scrutiny over Amazon’s business practices. This month, the House judiciary committee accused the company of obstructing its investigation into anti-competitive behaviour, referring the matter to the Department of Justice for a possible criminal investigation.

“While Amazon has reportedly closed on their acquisition of MGM Studios, antitrust officials can still hold Amazon accountable for the wide range of anti-competitive tactics they’ve used to hurt workers, small businesses, and consumers,” said Krista Brown, senior policy analyst at the American Economic Liberties Project.