The US FTC is Reportedly Investigating Amazon's Purchase of MGM
upstart writes:
The FTC is reportedly investigating Amazon's purchase of MGM:
Amazon's buyout of MGM might take much longer than planned. The Information sources say the Federal Trade Commission has launched an "in-depth" investigation into Amazon's MGM purchase over the potential for antitrust abuse. Officials are concerned about the potential for the acquisition to "illegally boost" Amazon's clout in offering goods and services, not just the content it produces.
The FTC Has Reportedly Opened An Investigation Into Amazon'S MGM Acquisition:
The Federal Trade Commission has opened an investigation into Amazon's acquisition of MGM, The Information reported Friday. The Information describes the probe as an "in-depth investigation into the deal," which could signal that it will stretch on for many months. The investigation also means the deal will be scrutinized by an FTC newly headed up by Lina Khan, an antitrust advocate and an Amazon critic.
The FTC is focused on "the larger implications of the deal for Amazon's market power," The Information reported based on information from two people who knew of the probe, and that "the FTC is wary of whether the deal will illegally boost Amazon's ability to offer a wide array of goods and services, and is not just limited to content production and distribution."
Amazon announced that it had reached a deal to acquire MGM, the studio behind the James Bond franchise, for $8.45 billion on May 26th, but it was widely expected that the merger would receive extra scrutiny from the government.
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