June 22, 2021
The Federal Trade Commission is reportedly preparing to review Amazon’s planned $8.45 billion deal with MGM, according to a report from The Wall Street Journal (via Deadline).
The move comes as the FTC gains a new chairwoman who has recently called for the reining in of the power tech giants and other online platforms have had over the past few years. Both an FTC and Amazon spokesperson had no comment when reached out to by Deadline, so it’s unknown just how long the investigation could last.
Despite many not believing that the government will be able to block the merger, Amazon’s acquisition of MGM was something that drew ire from a ton of politicians on Capitol Hill, with many wanting regulators to closely review and inspect the deal before it was done.
Amazon is officially set to acquire MGM along with its entire film and TV library that includes the rights to big franchises like James Bond, Rocky, Pink Panther, and more.
MGM Looking to Sell Entire Film Library and Studio
MGM Looking to Sell Entire Film Library and Studio
According to The Wall Street Journal, MGM is planning to sell its entire film studio which includes its wide and rich film library as well as TV-titles they’ve produced. The company, who has a reported market value of around $5.5 billion, has already tapped two investment banks -Morgan Stanley and Lion Tree LLC.- in order to kick-start the formal sale process.
According to the outlet, MGM is hoping that their vast library content would attract companies, who are interested in expanding into the streaming landscape. MGM currently has ownership on over 4000 titles and 17,000 hours of television programming. This includes big franchises such as the