- The US Federal Trade Commission could take several months to rule on online retailer Amazon.com’s $8.5-billion deal to acquire movie studio MGM, according to news reports
- The agency has issued a second request in its review of the merger, signaling it could be months before it reaches a decision
- Besides the merger, the FTC is also investigating Amazon as part of a number of probes related to Big Tech
WASHINGTON D.C.: The US Federal Trade Commission could take several months to rule on online retailer Amazon.com’s $8.5-billion deal to acquire movie studio MGM, according to news reports.
The agency has issued a second request in its review of the merger, signaling it could be months before it reaches a decision, Reuters reported.
In May this year, Amazon announced plans to purchase Metro Goldwyn Mayer, the legendary US movie studio behind the James Bond franchise.
The deal would help Amazon gain a vast library of films and TV shows, including Legally Blonde, Rocky, and Shark Tank, to help it boost its streaming services to compete with Netflix and Disney+, and draw more consumers to subscribe to its Prime club.
Besides the merger, the FTC is also investigating the online retail giant as part of a number of probes related to Big Tech.
In June, Amazon had pressed for the recusal of FTC chair Lina Khan from antitrust investigations into the company, citing her research and past advocacy against the company.
