September 27, 2022
Amazon AMZN-Q is anticipated to win unconditional EU antitrust approval for its $8.5-billion purchase of

Amazon AMZN-Q is anticipated to win unconditional EU antitrust approval for its $8.5-billion purchase of U.S. film studio MGM, folks acquainted with the matter mentioned, a transfer that’s set to ramp up competitors with streaming rivals Netflix NFLX-Q and Disney+.

Introduced in Could final yr, the deal would additionally strengthen Amazon’s video streaming service, drawing folks to subscribe to Amazon Prime, which gives quick delivery and encourages shoppers to buy extra recurrently.

The MGM acquisition would give the world’s largest on-line retailer rights to James Bond, some of the profitable franchises in movie historical past that’s earned practically $7-billion on the field workplace globally, in response to MGM.

MGM additionally licences content material for video video games, which may gain advantage Amazon’s improvement efforts in that space.

The European Fee, which is scheduled to resolve on the deal by March 15, declined to remark.

Amazon mentioned: “Completion of the transaction is topic to regulatory approvals and different customary closing situations, and we’re working with regulators to reply to requests.”

The Federal Commerce Fee is nearing a mid-March deadline to resolve on the deal, in response to a supply acquainted with the matter.

Be good along with your cash. Get the newest investing insights delivered proper to your inbox 3 times every week, with the Globe Investor publication. Enroll at present.

See also  Trulioo buys Danish startup for $50-million-plus as Canadian tech companies proceed overseas shopping for spreeFebruary 8, 2022