The European Union has set a March 15 deadline to rule on Amazon's takeover of MGM.
BRUSSELS (Reuters) - European Union antitrust investigators will decide by March 15 whether to approve Amazon.com Inc.’s proposed acquisition of U.S.-based MGM Studios, according to a European Commission filing released on Tuesday.
The deal will help Amazon compete more effectively with Netflix and Disney+ (DIS.N), boosting the video streaming service it uses to entice customers to sign up for Amazon Prime, which offers fast shipping and encourages frequent purchases.
MGM, or Metro Goldwyn Mayer, is a private company that owns the Epix cable channel and produces such notable television shows as "Fargo," "Vikings" and "Shark Tank."
After an initial inspection, the EU competition authority can allow the deal with or without remedies, or it can launch a lengthy investigation if it has serious concerns.
