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FTC prepares for possible challenge to Amazon’s $8.5 billion MGM deal – The Information

(Reuters) – The U.S. Federal Trade Commission (FTC) is gearing up for a potential antitrust lawsuit challenging Inc (NASDAQ:AMZN)’s $8.5 billion takeover of MGM Studios, the Information reported on Monday, citing people familiar with the situation.

The FTC is exploring actions, including hiring expert witnesses to appear in an eventual trial, the report said, adding that FTC will decide whether to bring the case in the next few weeks.

FTC did not respond to a Reuters’ request for comment, while Amazon declined to comment.

The move would be the latest in the ongoing FTC review of Amazon’s planned purchase of the U.S. movie studio, home to the “James Bond” franchise. The deal was announced in May last year.

In June, Amazon had filed a petition asking for FTC Chair Lina Khan, who has been a vocal Amazon critic, to be recused on antitrust matters related to the online retail giant because of her previous work while at an antitrust advocacy group, public statements and work for a congressional subcommittee.

Source : Reuters

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