FTC approaches March deadline for reviewing Amazon-MGM deal -source

The Federal Trade Commission is approaching a mid-March deadline for making a decision on whether to approve Amazon.com Inc's purchase of movie studio MGM for $8.5 billion, according to a source familiar with the matter. Amazon certified that it has "substantially complied" with the FTC's document requests, an action that started the clock for the FTC to make a decision about whether to file a legal challenge to the merger, the Wall Street Journal reported on Thursday. Last May, the tech giant announced it would buy the nearly century-old U.S. movie studio. Read More...

March 3 (Reuters) – The Federal Trade Commission is approaching a mid-March deadline for making a decision on whether to approve Amazon.com Inc’s purchase of movie studio MGM for $8.5 billion, according to a source familiar with the matter.

Amazon certified that it has “substantially complied” with the FTC’s document requests, an action that started the clock for the FTC to make a decision about whether to file a legal challenge to the merger, the Wall Street Journal reported on Thursday.

Last May, the tech giant announced it would buy the nearly century-old U.S. movie studio.

Amazon and the FTC both declined to comment on the report. MGM did not respond to a request seeking comment. (Reporting by Dawn Chmielewski in Los Angeles and Diane Bartz in Washington, D.C. Editing by Leslie Adler)