News
No Time to Die
Erik Gruenwedel
March 15, 2022
Amazon’s $8.45 billion acquisition of MGM Studios cleared a major hurdle March 15 after the European Union gave its approval on the transaction, which has international implications. The deal must still pass U.S. regulatory (Federal Trade Commission) scrutiny to become finalized.
In its ruling, the EU, which represents 28 countries, including France and Germany, found that Amazon and MGM don’t have overlapping business interests and that MGM movies, which include the James Bond franchise, “cannot be considered as must-have.”
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Amazon has reportedly asked that the FTC make a decision by the middle of this month whether it would further investigate the transaction. Without an objection, Amazon said it would move ahead with the transaction.
Regardless, Amazon (and other U.S. tech companies) remains in the EU crosshairs regarding its e-commerce business allegedly operating afoul of antitrust laws, including harming smaller local businesses, among other issues.
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