Washington, D.C. – The American Economic Liberties Project released the following statement in response to reports that Amazon is closing on their $8.45 billion acquisition of MGM Studios.

“The Federal Trade Commission has the ability to block or unwind any merger they find to be illegal before or after the deal is completed. While Amazon has reportedly closed on their acquisition of MGM Studios, antitrust officials can still hold Amazon accountable for the wide range of anticompetitive tactics they’ve used to hurt workers, small businesses, and consumers,” said Krista Brown, Senior Policy Analyst at the American Economic Liberties Project. “Amazon’s $8.45 billion deal to acquire MGM is the latest in an unprecedented wave of massive mergers that has increased prices across the country and strained antitrust enforcement. Congress must respond by increasing funding and resources for the FTC, despite calls from corporate leaders – and even some FTC Commissioners – to defund antitrust law enforcement.”

Learn more about Economic Liberties here.

###

The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.