The U.S. Federal Trade Commission will review the US$8.45-billion purchase of the Hollywood studio, which the company announced last month. According to Wall Street Journal sources, the FTC wanted to lead the review of Amazon’s purchase as it was already conducting an antitrust investigation into its business practices. (The Wall Street Journal)
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The U.S. Federal Trade Commission will review the US$8.45-billion purchase of the Hollywood studio, which the company announced last month. According to Wall Street Journal sources, the FTC wanted to lead the review of Amazon’s purchase as it was already conducting an antitrust investigation into its business practices. (The Wall Street Journal)
Talking point: The review comes days after President Joe Biden named Lina Khan to head the consumer-protection agency. Khan rose to prominence in 2017 when, as a student at Yale, she authored a paper critiquing “the potential harms to competition posed by Amazon’s dominance.” Last December, the FTC and 40 states accused Facebook of buying its rival so as to quash competition. This comes as regulators around the world seek to rein in Big Tech over competition concerns, the latest which includes the EU launching a formal investigation into Google’s advertising business today.
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