Alex Webb, Columnist

This Is Why There's No European Netflix or Amazon Prime

Amazon’s acquisition of MGM gives media executives in Europe one more reason to despair.

May 28, 2021 at 6:00 AM UTC

Alex Webb is a correspondent for Bloomberg Quicktake. He previously covered the technology, telecoms and media industries in London, San Francisco and Munich.

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Between Amazon.com Inc.’s $8.5 billion acquisition of Metro-Goldwyn-Mayer and WarnerMedia’s $130 billion merger with Discovery Inc., the recent rash of U.S. media deal making has surely left European entertainment moguls ruing what might have been.

For five years, Europe’s biggest media companies have been seeking deals for the same reason that industry consolidation is accelerating in the U.S.: They need more heft to compete effectively with streaming services Netflix Inc., Amazon Prime and The Walt Disney Co.’s Disney+.