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Britain on Thursday gave the green light to Paramount Skydance’s US$110 billion takeover of Warner Bros. Discovery, as the entertainment and media mega-deal still faces a key hurdle in the United States.
The UK government and the antitrust watchdog both cleared the deal after initially raising concerns over media plurality and competition, respectively.
The Competition and Markets Authority (CMA) found that the takeover would not weaken competition in film distribution, children’s TV and streaming services.
Britain’s culture minister Lisa Nandy, meanwhile, opted not to intervene in the merger, saying she had secured “assurances and further legally-binding commitments” to ensure a diverse range of broadcasting and on-demand services in the country.
“These assurances included a range of commitments on future investment in the UK, maintaining the distinct editorial identities of key services and the editorial independence of news,” she said in a statement.
Paramount’s bid still faces hurdles across the Atlantic after a federal judge in California ordered the companies to temporarily pause their merger last month.
Paramount agreed to delay the deal until June 2027.
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