FTC Nears Decision On Whether To Challenge Amazon-MGM Merger – Report
01.03.2022 - 09:03
/ deadline.com
The FTC is set to decide over the next few weeks whether to bring an antitrust lawsuit against Amazon’s planned merger with MGM. The Information reported this evening that the U.S. regulator is exploring actions that include hiring expert witnesses.
The $8.45 billion deal was announced last May, around the same time as WarnerMedia-Discovery. The latter merger has the DOJ’s blessing and is on track to close early in the second quarter. But regulators put Amazon on notice last July that they were investigating its acquisition of the storied studio.
Amazon’s Prime Video streaming service is free for subscribers of Amazon Prime, the world’s biggest customer loyalty program and the heart of Amazon’s commerce business. MGM’s library, with more than 4,000 films including the James Bond and Rocky franchises, and 17,000 TV shows, would significantly enhance Prime Video. Amazon Studios is behind The Marvelous Mrs. Maisel among others and will debut the first season of its new Lord Of The Rings: The Rings of Power in September.
“The acquisition thesis here is really very simple. MGM has a vast, deep catalog of much beloved intellectual property. And with the talent at Amazon and the talent at MGM Studio, we can reimagine and develop that IP for the 21st century,” said Amazon founder and then CEO Jeff Bezos last spring. “It will be a lot of fun work and people who love stories will be the big beneficiaries.”
Amazon, like other tech giants, has been targeted by regulators and Congress for alleged anticompetitive practices, including Amazon undermining and underselling vendors on its platform for one.
Thirty-four groups from the Writers Guild of America West to Public Citizen to Demand Progress have appealed to the FTC to deflect the
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