EU antitrust regulators clear Paramount-WBD merger as it faces challenge by U.S. states
EU Commission approves $111 billion Paramount-Warner Bros. Discovery merger, requiring Paramount exit Universal deal, as U.S. states and writers sue to block the merger.
- 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.
42 Articles
42 Articles
The European Union endorsed the acquisition of Warner Bros. Discovery by Paramount Skydance on Wednesday (22), after the two companies committed to certain concessions — including concluding an agreement for the distribution of Universal films, which belongs to the rival NBCUniversal. Paramount also agreed not to enter into any partnership with NBCUniversal to distribute films in the European Economic Area for ten years.
The EU has approved the billion-dollar takeover of Warner Bros. Discovery by Paramount Skydance under conditions.
Observador
Correio da ManhãPortugal is on the list of countries covered by the conditions imposed by Brussels, which prohibit the joint distribution of films with Universal or Disney for a decade.
A key condition for approval is that Paramount give up its stake in the company it owns with Universal, through which films are distributed in Europe.
The acquirer group has made commitments to Brussels which "fully address the competition problems identified by the Commission" in the film distribution sector.
Paramount Takeover Of Warner Bros. Wins EU Approval
Paramount’s $111 billion deal to acquire Warner Bros. Discovery (WBD) has taken a major step forward after securing approval from the European Union’s antitrust authority. The European Commission has greenlit the media mega-merger, in what will be welcome news for David Ellison as he contends with legal challenges in the U.S. and regulatory uncertainty in […]
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