Federal Trade Commission (FTC) conducts Amazon investigation Get Of the movie production company MGM. And investigators will be the most famous critics of tech companies.
According to people familiar with the matter, FTC is not the Department of Justice and is responsible for investigating antitrust laws regarding Amazon acquisitions. Former Columbia Law School professor Lina Khan has always been an active advocate for stronger law enforcement on technology platforms. After being confirmed by the Senate last week, Lena Khan was officially chaired by the FTC.
The $ 8.45 billion acquisition of MGM will bring early challenges to the agenda of Lena Khan’s antitrust law after taking office. In 2017, Khan, still a student at Yale Law School, said:Amazon’s antitrust paradox.Her treatise reveals the online retailer’s evolution from a discreet bookstore platform to a giant controlling the critical infrastructure of the digital economy, and the threat to competition that traditional antitrust analysis poses to the company. I’m reviewing why it wasn’t.
Can Kahn prevent Amazon from buying MGM?
The acquisition of Amazon has also attracted criticism from those who are afraid of the development of tech companies. However, antitrust experts believe it is difficult for regulators to block transactions. FTC was previously investigating an acquisition by Amazon Whole foods.. After finding no competitive issues, FTC agreed to Amazon’s acquisition of Whole Foods.
Massachusetts Senator Elizabeth Warren wrote on Twitter that she was very happy to see the FTC intend to investigate the deal. She said Amazon is not an ordinary acquirer.
We are pleased that FTC will investigate this transaction. Amazon is not a typical studio purchaser. The FTC needs to investigate how this huge purchase affects workers, small businesses, and overall competition, not just streaming and entertainment. https://t.co/ba8i2W6Nen
— Elizabeth Warren (@SenWarren) June 22, 2021
Cowen & Co. Analyst Paul Gallant said the FTC could do a closer look at Amazon’s acquisition, but said, “Consumers are enjoying an increasingly competitive market for pay-TV, so eventually the agency will We will approve, “he pointed out in the report, content from streaming platforms and traditional cables. “
Amazon and its technology Colleague We have acquired hundreds of companies in the last decade. However, they are largely unstoppable by US antitrust law enforcement agencies. The aggressive acquisition of these tech companies ultimately sparked widespread criticism, along with those who accused antitrust agencies of not actively questioning the acquisition of these companies. At the same time, people also want to push forward with new legislation to amend antitrust laws.
Today, House of Representatives will consider proposing a series of antitrust bills for Amazon and other technology platforms. If one of the proposals is passed, it will be more difficult for large tech companies to get approval.
https://www.gizchina.com/2021/06/23/amazons-acquisition-of-mgm-may-be-delayed-or-canceled/ Amazon’s acquisition of MGM may be delayed or canceled