Amazon finally reports the completion of the acquisition of Rocky and 007 movie production company 'MGM', but the state of being swayed by regulatory authorities continues

Amazon has been approved by EU anti-trust regulators for the acquisition of Metro-Goldwyn Mayer Studios (MGM) , known for producing and distributing movies such as ' Rocky ', ' Robocop ' and ' 007 ' series. Announced that the acquisition has been completed. The total purchase price is $ 8.45 billion (about 1 trillion yen).

MGM joins Prime Video and Amazon Studios
https://www.aboutamazon.com/news/entertainment/mgm-joins-prime-video-and-amazon-studios

Amazon Closes Deal to Acquire MGM --WSJ
https://www.wsj.com/articles/amazon-closes-deal-to-acquire-mgm-11647523338

MGM is now part of Amazon --The Verge
https://www.theverge.com/2022/3/17/22979800/amazon-mgm-merger-completed-prime-studios

In May 2021, Amazon announced that it had signed an agreement to acquire MGM. However, Amazon has been scrutinized by US and EU regulators for antitrust violations, and it has been reported that regulators may not approve the deal.

Amazon acquires MGM, a movie production company such as '007' and 'Rocky' for 920 billion yen-GIGAZINE

by Dennis Sylvester Hurd

The deal was completed two days after the EU antitrust regulators approved the deal between Amazon and MGM. EU regulators have unconditionally approved Amazon's acquisition of MGM, saying that 'MGM content is not a must-have.' The European Commission has determined that the duplication of business between Amazon and MGM is 'limited' in its review against antitrust laws.

'We welcome MGM employees, creators and talents to Prime Video and Amazon Studi to provide our customers with quality stories,' said Mike Hopkins, Senior Vice President of Amazon Prime Video and Amazon Studios. We look forward to working together to create more opportunities. '

Chris Blairton, CEO of MGM, said, 'MGM is responsible for producing the most famous and acclaimed film and television series of the last century. We will continue this tradition as we move on to the next chapter. , Amazon Prime Video and Amazon Studio will provide viewers with the best entertainment for years to come. '

However, at the time of writing the article, it is unknown what kind of decision the Federal Trade Commission (FTC) of the United States made regarding the acquisition contract. Amazon has announced the completion of the transaction as the statutory deadline for FTC review has expired, but the release does not comment on the FTC review results.

FTC Chairman Lina Khan is considered an anti-Amazon pioneer, and the deal could not be approved by the FTC. In June 2021, Amazon reportedly submitted a petition to the FTC to 'remove Chairman Khan from Amazon's investigation.' Therefore, it is quite possible that the FTC will decide not to accept the Amazon acquisition agreement.

Amazon pleads for excluding anti-Amazon pioneers from antitrust investigations-GIGAZINE

by New America

According to The Wall Street Journal, Amazon has submitted over 3 million documents to the FTC over eight months to review the FTC's acquisition agreement. An FTC spokeswoman refused to specifically comment on Amazon's acquisition of MGM in an interview with The Wall Street Journal, but said, 'Even after the deal is complete, a majority of the review committee If you oppose the acquisition, the FTC can challenge the acquisition transaction. '

The FTC's review committee is made up of five members, but at the time of writing the article, there was one vacancy, so it was made up of two Democrats and two Republicans. Of these, Republicans are expected to oppose the deal, and it is quite possible that the FTC will challenge the deal, depending on the views of the new members elected by President Biden.