The European Commission has given Amazon’s $8.5 billion acquisition of MGM its unconditional approval, as the deal nears completion.
The Commission said it had concluded that the transaction would raise no competition concerns in the European Economic Area.
It added that the transaction would not “significantly reduce competition in the markets for (i) the production and supply of AV content, (ii) the wholesale supply of TV channels, (iii) the retail supply of AV services, (iv) the production and licensing of distribution rights to third-party distributors of films for theatrical release and (v) the provision of marketplace services.”
Amazon said it was pleased with the clearance from the European Union.
The deal now needs to pass the regulatiors in the United States. The US Federal Trade Commission reportedly has a mid-March deadline to decide on its decision.
The tech giant announced it had entered a “definitive merger agreement” under which Amazon will acquire MGM in May of last year.
MGM’s library includes over 4,000 films, including the James Bond franchise, and 17,000 TV shows.