Amazon's Planned Purchase of MGM To Be Reviewed by FTC

The Federal Trade Commission will be the agency to review Amazon's proposed acquisition of Hollywood studio MGM, Wall Street Journal reported Tuesday, citing people familiar with the matter, just as the commission gets a new chairwoman who has been critical of the online giant's expansion. From a report: Amazon last month announced its deal for MGM, which would boost its Prime Video streaming platform in a market that includes rivals such as Netflix and Walt Disney. MGM has a library of more than 4,000 films, including the James Bond franchise, and a TV catalog that includes "The Handmaid's Tale" and "Vikings." Companies doing sizable mergers have to submit their deals for government antitrust review. The FTC shares antitrust authority with the Justice Department, and the two agencies split up the work of reviewing proposed deals. The department has recently reviewed transactions involving video content, including Disney's acquisition of 21st Century Fox and AT&T's acquisition of Time Warner, a deal the department unsuccessfully attempted to block in court.

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