European regulators cleared Amazon’s purchase
of Hollywood studio MGM, saying the deal
doesn’t raise any competition concerns.
The online shopping giant said last year that it
was buying MGM in a $8.45 billion deal aimed
at bulking up its video streaming service with
more content to watch.
The European Commission said its investigation
found the deal “would not significantly reduce
competition” in European markets, including
for movie and TV production, wholesale
supply of TV channels and retail supply
of “audiovisual services.”
The commission, the European Union’s executive
arm, and its top competition watchdog said