EU antitrust regulators clear Paramount-WBD merger as it faces challenge by U.S. states
The approval is conditional on Paramount ending its European film distribution partnership with Universal and avoiding similar deals for 10 years.
- On Wednesday, the European Commission approved the $111 billion merger of Paramount Skydance and Warner Bros, finding the transaction will not harm competition in film or television production across Europe.
- A federal judge in Oakland, Calif., temporarily halted the merger on Monday, pending a hearing on a preliminary injunction sought by 12 states including California and New York, which argue the deal limits market competition.
- Addressing competition concerns, Paramount agreed to cancel its United International Pictures distribution partnership with Universal within 13 months, committing to avoid similar arrangements for a decade.
- Securing approvals from the Justice Department and 20 countries including Australia and China, Paramount still faces opposition from the Writers Guild, which sued to block the merger over creative opportunities and pay.
- The United Kingdom remains the final key regulatory hurdle for the $111 billion deal, as the government continues to consider whether to intervene while ongoing litigation in America and labor challenges persist.
178 Articles
178 Articles
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European Commission Approves Merger of Paramount and Warner Bros. Discovery
Paramount's acquisition of Warner Bros. Discovery took a closer step to becoming reality this week when the European Commission approved the merger. The post European Commission Approves Merger of Paramount and Warner Bros. Discovery appeared first on Breitbart.
Warner Bros.-Paramount Merger Is Temporarily Blocked in the United States. EU Regulators Just Cleared It
European Union antitrust regulators have approved Paramount Skydance's proposed $110 billion acquisition of Warner Bros. Discovery, clearing one of the transaction's biggest regulatory hurdles.
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