Amazon reportedly secures EU approval for MGM acquisition

Amazon is set to secure EU approval of its proposed US$8.5 billion acquisition of MGM.

Announced in May 2021, the acquisition is set to represent Amazon’s second biggest-ever deal and will see the studio behind shows such as The Handmaid’s Tale and Vikings fall under the retail giant’s umbrella.

MGM’s catalogue includes more than 17,000 hours of TV as well as more than 4,000 films, ranging from 12 Angry Men and Basic Instinct to Legally Blonde, Raging Bull, Robocop and The Magnificent Seven.

While unions had called for regulators to derail the deal, a report from Reuters claims that the EU is set to win unconditional antitrust approval to buy the James Bond studio. The EU had set a decision date for March 15, but sources close to the news wire said that the call has already been made.

The European Commission did not comment, but a spokesperson for Amazon said: “Completion of the transaction is subject to regulatory approvals and other customary closing conditions, and we’re working with regulators to respond to requests.”

Once the EU officially approves the deal, the final hurdle facing Amazon will be the US Federal Trade Commission. The FTC has set a mid-March deadline.