FTC to look into Amazon's planned MGM acquisition - report - Breaking The News
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FTC to look into Amazon's planned MGM acquisition - report

The United States Federal Trade Commission (FTC) will review Amazon's proposed purchase of MGM, the Wall Street Journal reported citing people familiar with the matter.

According to the sources, the FTC urged to be picked as the agency to review the deal as it is already conducting an antitrust probe into the tech giant's business practices.

Last month, Amazon announced it reached an agreement to buy the media production company for $8.45 billion and vowed to help "preserve MGM’s heritage and catalog of films" and provide users with greater access to the studio's releases.

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