Amazon wins EU antitrust nod for $8.5 billion MGM acquisition

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BRUSSELS : Amazon on Tuesday gained unconditional EU antitrust approval for its proposed $8.5 billion acquisition of U.S. movie studio MGM, a move that will help it better compete with streaming rivals Netflix and Disney+.The European Commission said the deal would not pose competition concerns in Europe,

BRUSSELS : Amazon on Tuesday gained unconditional EU antitrust approval for its proposed $8.5 billion acquisition of U.S. movie studio MGM, a move that will help it better compete with streaming rivals Netflix and Disney+.

The EU competition enforcer said it had looked into the overlaps between Amazon and MGM in audio-visual content and found that the combined market shares are low and the presence of strong rivals.

 

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