U.K. clears Paramount’s Warner Bros. Discovery takeover
Cue Writer
British regulators have cleared Paramount’s proposed takeover of Warner Bros. Discovery, removing a major U.K. obstacle from the $81 billion deal while the companies still face a court challenge in the United States.
The Competition and Markets Authority said the transaction would not substantially lessen competition in the U.K. The Department for Digital, Culture, Media and Sport also declined to intervene after Paramount made legally binding commitments tied to its British broadcasting and on-demand businesses, according to Associated Press reporting carried by Spectrum News.
The commitments include editorial independence for Channel 5 and separate treatment of children’s channels, the report said. The merger is not finished: a coalition of 12 U.S. states is trying to block it, and an antitrust trial is scheduled for March. Paramount and Warner have agreed to delay the close while that case moves forward.