Paramount offers remedies for Warner deal, making EU approval likely
Paramount said the remedy would address EU antitrust concerns as the Commission extended its decision deadline to July 22.
- On Wednesday, Paramount Skydance Corp submitted remedies to the European Commission addressing antitrust concerns about its $110 billion acquisition of Warner Bros Discovery, a regulatory filing showed.
- Paramount committed to withdrawing from United International Pictures, its film distribution joint venture with Universal Pictures, to allay antitrust concerns voiced by European cinema operators.
- The European Commission extended its provisional decision deadline from July 7 to July 22, allowing regulators additional time to assess the proposed remedy for the merger.
- Separately, UK Culture Secretary Lisa Nandy informed Paramount and WBD she is "minded to intervene" in the deal over media plurality concerns, requesting they address her issues by July 6.
- While the U.S. Justice Department cleared the transaction, California and New York attorneys general are preparing litigation to block the deal, though regulators in Kuwait and Australia have granted unconditional approval.
23 Articles
23 Articles
Paramount Skydance offers remedies to secure EU approval for deal
Paramount Skydance Corp (PSKY.O) has offered remedies to address EU competition concerns about its $110 billion acquisition of Warner Bros Discovery (WBD.O), a regulatory filing showed on Wednesday, in a move which a source told Reuters last week was likely to gain European Commission approval for the deal. Paramount said it was “confident that this remedy directly and comprehensively addresses any concerns expressed in the European Commis…
Paramount Submits Concessions to Secure WB Merger Approval in Europe
Paramount has submitted concessions to secure regulatory approval of its $110 billion merger with Warner Bros. Discovery in Europe. In an update on its website, the European Commission extended the deadline of its Phase 1 investigation from July 7 to July 22. However, an EC spokesperson declined to disclose the specific commitments that have been submitted. Separately, the EC is reviewing the foreign investment in the deal, with a deadline for t…
In a letter, co-signed with Green Activist Stephanie Brancaforte, former director of Change.org Italia, Hollywood star protects European creators and...
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