Is AMGMazon really a done deal? With the colossus still in the governmental crosshairs, don't bet on it
last week at its Culver City headquarters. As Amazon moves full steam ahead, the focus is less on what Khan will do next as much it is on MGM chieftains like Michael DeLuca and Mark Burnett, whose days operating independently are likely numbered as Amazon’s studio/streaming VP, Mike Hopkins, figures out how to integrate the two entities.
With a $6.5 billion price tag along with nearly $2 billion in debt, this was not a small purchase even for a colossus like Amazon. MGM is second only to Whole Foods in acquisition size for the company — which paid $14.6 billion for the grocer in 2017 — and is far larger than anything else on Jeff Bezos’ long shopping list. No other Big Tech firm did more M&A between 2019 and 2021, according to Dealogic.
Looked at in a vacuum, MGM would seem too small to trip antitrust alarms; it’s not as if Amazon is swallowing a true conglomerate like a Disney here. Nevertheless, acquiring MGM was never considered a slam dunk because Amazon has a massive regulatory target on its back due to its sheer size and questionable tactics on other fronts.
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