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EU Approves Amazon’s $8.5B MGM Deal

 |  March 15, 2022

Amazon on Tuesday gained unconditional EU antitrust approval for its proposed $8.5 billion acquisition of US movie studio MGM to help it to compete with streaming rivals Netflix and Disney+.

The European Commission said the deal would not pose competition concerns in Europe, confirming a Reuters story on March 9.

The EU competition enforcer said it had looked into overlaps between the world’s largest online retailer and MGM in audio-visual content and found that the combined market shares are low and that they have strong rivals.

“The addition of MGM’s content into Amazon’s Prime Video offer would not have a significant impact on Amazon’s position as provider of marketplace services,” the Commission said.

Amazon said it was pleased with the EU clearance.

The U.S. Federal Trade Commission has a mid-March deadline to decide on the deal, a person familiar with the matter said.

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