Paramount Could Exit Partnership with Universal to Get Warner Bros. Deal Approved in EU
- Paramount is nearing European Commission approval for its $111 billion acquisition of Warner Bros. Discovery, provided the company exits its joint venture with Universal Pictures to address international film distribution concerns.
- The Justice Department approved the deal earlier this month, finding it will "increase competition across the media and entertainment ecosystem," while regulators in China and South Africa have also cleared the merger.
- Brussels regulators met with the two companies on Tuesday to discuss approval conditions; exiting the joint venture with Universal could extend the European Commission's July 7 deadline to July 21.
- Despite these regulatory clearances, a coalition of states led by California plans to challenge the merger in court, while three Democratic senators requested the FCC delay approval to investigate foreign investment risks.
- Oracle scion Larry Ellison donated roughly $45 million to a nonprofit supporting President Trump's 2024 election, while Paramount argues the merger is necessary to compete against tech giants like Netflix and Amazon.
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18 Articles
Paramount ready to sell Universal Pictures JV for Warner deal, source ...
Paramount Skydance is prepared to dispose of its joint film distribution venture with Universal Pictures to address the antitrust concerns of the European Union (EU) about its acquisition of Warner Bros. Discovery for US$ 110 billion, said on Wednesday (24) a person familiar with the subject. The proposal, which arises following a meeting with EU competition agencies, will be presented next Tuesday (30), said the source. This would extend the Eu…
Paramount Could Exit Partnership with Universal to Get Warner Bros. Deal Approved in EU
Paramount’s acquisition of Warner Bros. Discovery is getting closer to being approved in Europe, with Brussels set to approve the $111 billion deal if the company to check boxes set by the European Commission. The antitrust enforcing group met with the two companies on Tuesday to discuss the conditions of the approval, according to a […] The post Paramount Could Exit Partnership with Universal to Get Warner Bros. Deal Approved in EU appeared fir…
Times of India
The Economic TimesParamount’s $110 billion Warner Bros takeover on track for EU approval
Paramount Skydances proposed $110 billion acquisition of Warner Bros Discovery is reportedly moving closer to approval from the European Union, after the company indicated it is willing to address regulatory concerns around film distribution.
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