The film studio behind the James Bond films, among other things, is definitively in the hands of tech giant Amazon. It means that Amazon Prime Video’s offerings are enriched with MGM’s collection. It consists of more than 4000 films and 17,000 TV episodes.
The tech giant announced last May that it wanted to buy MGM (Metro-Goldwyn-Mayer) for the equivalent of 6.91 billion euros. The question then was whether regulators in the US and in the EU would give permission.
Investigating abuse of power
Amazon is under a magnifying glass on both continents for possible abuse of power; several investigations are underway. In addition, people are critical of allowing tech companies to grow through acquisitions.
Nevertheless, the European Commission gave the green light for the acquisition on Tuesday. The conclusion was that the merger of the two companies does not raise concerns about unfair competition. In the Committee’s view, the overlap between the parties in the audiovisual world is limited, as is their joint market share.
The American regulator FTC had until mid-March to file a case against the planned takeover. That didn’t happen. The chairman of the committee, Linda Khan, is known as a critic of the American group.