# Exclusive-Amazon to secure unconditional EU approval for $8.5 billion MGM buy – sources
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-03-09
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Amazon set to win EU approval for $8.5 bln MGM deal
Meta Description: Amazon's $8.5 billion acquisition of MGM expected to shake up streaming landscape, granting access to James Bond franchise and boosting Amazon Prime.
URL: https://financedigest.com/exclusive-amazon-to-secure-unconditional-eu-approval-for-8-5-billion-mgm-buy-sourceshtml

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By Foo Yun Chee

BRUSSELS (Reuters) -Amazon is expected to win unconditional EU antitrust approval for its $8.5 billion buy of U.S. movie studio MGM, people familiar with the matter said, a move that is set to ramp up [competition with streaming](https://www.financedigest.com/uk-competition-watchdog-has-music-streaming-in-its-sights.html "UK competition watchdog has music streaming in its sights") rivals Netflix and Disney+.

Announced in May last year, the deal would also strengthen Amazon’s [video streaming service](https://www.financedigest.com/video-collaboration-is-pushing-the-boundaries-of-the-customer-experience-in-financial-services.html "Video Collaboration is pushing the boundaries of the customer experience in Financial Services"), drawing people to subscribe to Amazon Prime, which offers fast shipping and encourages consumers to shop more regularly.

The MGM acquisition would give the world’s largest online retailer rights to James Bond, one of the most lucrative franchises in film history that’s earned nearly $7 billion at the [box office](https://www.financedigest.com/tips-for-moving-office-how-to-use-packing-boxes-efficiently.html "Tips for Moving Office: How to Use Packing Boxes Efficiently") globally, according to MGM.

MGM also licences content for [video games](https://www.financedigest.com/ubisoft-shares-slump-20-after-french-video-game-maker-warns-on-revenue.html "Ubisoft shares slump 20% after French video game maker warns on revenue"), which could benefit Amazon’s development efforts in that area.

The [European Commission](https://www.financedigest.com/german-economy-expected-to-grow-modestly-in-2023-european-commission.html "German economy expected to grow modestly in 2023 – European Commission"), which is scheduled to decide on the deal by March 15, declined to comment.

Amazon said: [“Completion of the transaction](https://www.financedigest.com/token-completes-first-ever-pisp-open-banking-transaction.html "Token Completes First Ever PISP Open Banking Transaction") is subject to regulatory approvals and other customary closing conditions, and we’re working with regulators to respond to requests.

The Federal Trade Commission is [nearing a mid-March deadline to decide on the deal](https://www.financedigest.com/endeavor-nears-deal-to-buy-vince-mcmahons-wwe-sources.html "Endeavor nears deal to buy Vince McMahon’s WWE -sources"), according to a source familiar with the matter.

(Reporting by Foo Yun Chee, Editing by Louise Heavens)


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