European Union officers have unconditionally rubber stamped $845 million bid to purchase famed film and TV studio . The European Commission’s antitrust regulators there was restricted overlap between the businesses and stated the merger would not severely cut back competitors within the theatrical movie and audio-visual content material markets.
“The Commission found that MGM’s upstream activities as a producer and licensor of AV content are limited compared to other market players’ activities; MGM’s content cannot be considered as must-have; and a wide variety of alternative content exists,” the EC stated. It famous MGM’s motion pictures account for a restricted share of field workplace income within the European Economic Area and that “overall MGM is not among the top production studios, despite its rights over successful film franchises such as James Bond.”
Amazon nonetheless requires the inexperienced mild earlier than it will possibly shut the deal, which was introduced final May. Recent experiences advised the FTC was planning to problem the merger with an antitrust lawsuit. However, that requires a majority vote by commissioners.
The FTC at present has two Democrat and two Republican commissioners. reported that whereas they’ve reached a bipartisan consensus on some points, a vote on an Amazon-MGM swimsuit might be cut up alongside social gathering strains. The Senate has but to vote on .
In any case, the deadline for a choice on the proposed MGM buyout is claimed to be quick approaching, . If the FTC does not mount a authorized problem by then, Amazon might be free to proceed with the merger.
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