Brussels, 15 Mar The European Commission (EC) approved on Tuesday the acquisition of the film production company MGM Holdings Inc by Amazon, after concluding that the operation will not create competition problems in the European Economic Area (EEA). Amazon operates businesses that include retail, consumer electronics and technology and services, as well as the co-production and retail supply of its own and third-party audiovisual services through Prime Video, while MGM Holdings Inc, which owns Metro Goldwyn Mayer Studios, is an entertainment company, which produces and distributes content. The Commission's investigation concluded that the transaction, as notified, will not greatly reduce competition in the markets of production and supply of content, wholesale supply of television channels and retail supply of audiovisual services. Nor will it distort, Brussels believes, the production and licensing of distribution rights to third party film distributors for theatrical release and the provision of market services, according to the EU executive in a statement. The operation was notified to Brussels on 8 February. Under Community legislation, the Commission has a duty to assess mergers and acquisitions involving companies with turnover above certain thresholds and avoid concentrations that significantly impede effective competition in the EEA or part of that area. CHIEF mb/pddp (More information about the European Union at euroefe.euractiv.es)
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