Brussels, 31/03/2005 (Agence Europe) - The European Commission on Thursday authorised the acquisition of film producer Metro-Goldwyn-Mayer Inc. (“MGM”) by a conglomerate led by Sony Corporation (“Sony”). MGM has activities in film production, acquisition and distribution, and has a very attractive back catalogue: it is the owner or holder of distribution rights for, amongst others, the James Bond, Pink Panther and Rocky films. On the other hand, MGM distributes few big-budget studio pictures. Sony, for its part, is mainly active in the audio, video and information and communication technology sectors, and is also well established in the production of and the acquisition and sale of licences for films and television programmes. In order to acquire MGM, Sony has joined forces with a number of American investment funds (Providence Equity, Texas Pacific Group and DLJ Merchant Banking, Inc.) and with the American cable television operator Comcast. After a large market investigation in EU member states, the Commission concluded “the transaction will neither create nor strengthen a dominant position nor otherwise impede effective competition. The market shares or market position of the combined entity will not materially alter the competitive landscape for the release of films, TV programmes (including films) or home entertainment. Each market shows evidence of competition and choice, given the presence of a sufficient number of alternative suppliers”. A subsidiary of Sony, Sony Pictures Entertainment, will be responsible for day-to-day running of MGM's film production and distribution activities.