Amazon Bid for MGM to Get FTC Antitrust Review (Report)

Amazon Bid for MGM to Get FTC Antitrust Review (Report)
Amazon’s $8.5 billion deal to acquire MGM will be subject to an antitrust review by the Federal Trade Commission, the Wall Street Journal reported, citing anonymous sources.

Last month, Amazon announced a definitive agreement to acquire MGM and its well-stocked library of 4,000 movies and 17,000 TV shows, including the storied James Bond film franchise.

The FTC and the Justice Department share oversight of reviewing the antitrust implications of significant proposed mergers and acquisitions. The FTC recently got the green light after a recent interagency meeting with the DOJ to review the Amazon-mgm deal, given that the FTC currently is leading a broader antitrust probe into Amazon’s business practices, per the WSJ report.

Amazon declined to comment on the Journal report. An FTC spokeswoman said the agency “does not confirm the existence of investigations, and we have no further comment on this.”

Word that the FTC will be heading up the
See full article at Variety »

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