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.”
Subscribe HERE to the FREE Media Play News Daily Newsletter!
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.
Related Posts
Report: Amazon, MGM Acquisition Deal ImminentAmazon's reported $9 billion interest in MGM Holdings is reportedly set to happen as early as this week. The Wall Street Journal, citing sources familiar with the situation, reported the deal, which would jumpstart Amazon's movie and TV show ambitions,…
Lionsgate Stock Jumps on Acquisition ScuttlebuttLionsgate's stock took a mid-morning bounce Jan. 18 following media reports the studio/distributor is in the M&A crosshairs of media giants Amazon, Verizon, CBS and Viacom. Shares increased 5% the day after a Deadline.com report - citing sources familiar with…
MGM Studios Forms Benelux Reality TV Production UnitMGM Studios has partnered with Dutch-based TV producers to create reality-based programing for Benelux countries, including Belgium, the Netherlands and Luxembourg. MGM, together with Roy Aalderink and Peter Lubbers, formed the unscripted TV production company Concept Street, headquartered in Holland.…
Lionsgate Renews Amazon Channels PartnershipLionsgate has re-upped a multiyear distribution agreement with Amazon Channels affording the studio distributor’s over-the-top video platforms access to tens of millions of Prime members. Lionsgate OTT ventures include Pantaya, Keven Hart’s Laugh Out Loud!, Pop, Tribeca Shortlist and Starz.…
