The first green light for Amazon, which announced that it would buy MGM for $8.5 billion last year, but was subject to the scrutiny of regulators, came from Europe. The European Commission has determined that the acquisition will not distort competition.
Amazon, which plays a role in almost every sector by not being just an e-commerce giant today, made an important move last year. The giant company is one of the most famous media companies in the cinema world. Metro-Goldwyn-Mayer (MGM) announced that he was going to buy it. If this is worth the purchase 8.5 billion dollars was disclosed.
However, this acquisition, which will strengthen Amazon’s hand in the world of TV and cinema, faced a major obstacle in the coming days. European Commissionstarted an investigation as to whether the purchase would disrupt the competitive environment. The result of that review was announced today.
The European Commission gave the green light for the acquisition:
In the statement it shared, the European Commission said that Amazon’s acquisition of MGM is competitive in Europe. won’t cause any problems announced that they found it. The Commission examined whether Amazon and MGM overlap in audio-visual content, that the combined market share of the two is low and that to fight strong opponents stated that they found it. Amazon thanked the European Commission in its statement.
Another obstacle is still not resolved:
On the other hand, the Federal Trade Commission, the regulator in the home country of both companies, still hasn’t finished his review. The Federal Trade Commission, in parallel with the European Commission, would examine whether competition would be distorted.
MGM, which Amazon is very close to buying, holds the rights to many well-known productions such as James Bond, Fargo, Rocky, Vikings, The Silence of the Lambs, Teen Wolf, Survivor and many more.
Source :
https://www.gadgetsnow.com/tech-news/amazon-wins-eus-approval-for-8-5-billion-mgm-deal/articleshow/90251746.cms