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EU sets March 15 deadline for decision on Amazon’s MGM takeover -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for Amazon can be seen in Boves (France), August 8, 2018, at the company’s logistics center. REUTERS/Pascal Rossignol

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BRUSSELS – EU antitrust regulators are expected to decide on March 15 whether Amazon (NASDAQ:) will clear its proposed acquisition of the U.S. movie studio MGM. A European Commission filing revealed Tuesday.

This deal will allow the largest online retailer in the world to be more competitive with Netflix (NASDAQ) and Disney+. It also strengthens the video streaming service that it offers to encourage people to sign up for Amazon Prime. Amazon Prime provides fast shipping and encourages customers to shop regularly.

Metro Goldwyn Mayer or MGM Privately Owned is the owner and operator of Epix, a cable channel that broadcasts popular television shows like “Fargo”, “Vikings” and “Shark Tank”.

After its preliminary review, the EU competition enforcer may approve or deny the agreement. If it finds serious problems, it can also open an investigation.

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