UK Approves Paramount Skydance Acquisition Of Warner Bros. Discovery

The UK Competition and Markets Authority has formally cleared the acquisition of Warner Bros. Discovery by Paramount Skydance Corporation.

• Clearance: UK Competition and Markets Authority (CMA), formally granted
• Separate step: Paramount has entered a deed of covenant and undertaking with the UK Department for Digital, Culture, Media and Sport
• Prior clearances: United States, Australia, Brazil, Canada, China, Kuwait, Montenegro, New Zealand, North Macedonia, Saudi Arabia, Serbia, South Africa, South Korea, Ukraine, the European Commission and the COMESA Competition Commission
• Total jurisdictions: 66 have now cleared the deal or chosen not to challenge it on competition or foreign investment grounds

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A Scaled Media Company

Paramount said the clearances recognise that the combination with WBD will enhance consumer choice and enable "a creative-first company" to invest in more projects for audiences worldwide. The company framed the deal as creating a scaled media and entertainment business capable of competing with the technology companies that have come to dominate the industry, while strengthening opportunities for creatives in front of and behind the camera.

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