The European Commission (EC) has approved unconditionally, under the EU Merger Regulation, the proposed acquisition of MGM by Amazon.
In a statement, the EC says that it concluded that the transaction would raise no competition concerns in the European Economic Area (‘EEA’).
Specifically, it would not significantly reduce competition in the markets for (i) the production and supply of AV content, (ii) the wholesale supply of TV channels, (iii) the retail supply of AV services, (iv) the production and licensing of distribution rights to third-party distributors of films for theatrical release and (v) the provision of marketplace services. These markets are found to be likely national in scope.
As previously reported by Broadband TV News, Amazon entered into an agreement in May 2021 to buy MGM for $8.45 billion