The EU has set a March 15 deadline for a verdict on Amazon's MGM acquisition.
(Reuters) - BRUSSELS, Feb. 8 (Reuters) - According to a European Commission file released on Tuesday, EU antitrust investigators will decide by March 15 whether to approve Amazon's proposed acquisition of MGM Studios in the United States.
The agreement would help Amazon compete more effectively with Netflix and Disney+ (DIS.N), reinforcing the video streaming service it uses to get customers to subscribe to Amazon Prime, which provides rapid shipping and encourages them to purchase more frequently.
MGM, or Metro Goldwyn Mayer, is a privately held company that owns the Epix cable channel and produces notable TV programs such as "Fargo," "Vikings," and "Shark Tank."
After a preliminary inspection, the EU competition enforcer can allow the transaction with or without remedies, or it can launch a protracted inquiry if it has major concerns.
