Amazon’s MGM Takeover Could Be Blocked By FTC
Amazons’ takeover of movie studio MGM may be under threat, as the U.S. Federal Trade Commission reviews the deal.
The antitrust investigation will be led by former Columbia Law School professor Lina Khan, who took over as FTC chairwoman last week. She has been an outspoken advocate against dominant technology companies in the past.
Despite this, antitrust laws are notoriously hard to uphold. The FTC cleared Amazon’s takeover of Whole Foods, despite mass criticism.
Democratic Senator Elizabeth Warren said of the probe, “I’m glad the FTC will be investigating this deal. Amazon is no typical studio buyer, and the FTC should look into how this behemoth’s purchase may affect not just streaming and entertainment, but also workers, small businesses, and competition overall.”