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FTC approaches March deadline for reviewing Amazon-MGM deal -source -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Amazon’s logo can be seen near Paris at its logistics center in Bretigny-sur-Orge on December 7, 2021. REUTERS/Gonzalo Fuentes/File Photo

(Reuters) – According to a source close to the situation, Amazon.com Inc (NASDAQ) has a deadline of mid-March for approving Amazon.com Inc’s acquisition of MGM movie studio for $8.5 billion.

Amazon has certified it has “substantially comply” with FTC document requests. This action set the FTC clock to decide whether or not to challenge the merger’s validity, according to The Wall Street Journal.

In May last year, tech giant Google announced that it had purchased the US’s nearly 100-year-old movie studio.

Both Amazon and FTC declined to comment. MGM declined to comment on a request.

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