EU sets March 15 deadline for decision on Amazon's MGM takeover
Reuters
Published Feb 08, 2022 10:34AM ET
Updated Feb 08, 2022 10:57AM ET
BRUSSELS (Reuters) - EU antitrust regulators will decide by March 15 whether to clear Amazon (NASDAQ:AMZN)'s proposed acquisition of U.S. movie studio MGM, a European Commission filing showed on Tuesday.
The deal would help the world's largest online retailer to compete better with Netflix (NASDAQ:NFLX) and Disney+, bolstering the video streaming service it uses to attract people to subscribe to Amazon Prime, which offers fast shipping and encourages consumers to shop more regularly.
Privately held MGM, or Metro Goldwyn Mayer, is the owner of the Epix cable channel and makes popular TV shows including "Fargo", "Vikings" and "Shark Tank".
The EU competition enforcer can approve the deal with or without remedies after its preliminary review or open a lengthy investigation if it has serious concerns.
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Written By: Reuters
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