EU Set to Approve Paramount’s $111 Billion Warner Bros. Deal as Studio Weighs Universal JV Exit
Updated
Updated · Hollywood Reporter · Jun 24
EU Set to Approve Paramount’s $111 Billion Warner Bros. Deal as Studio Weighs Universal JV Exit
3 articles · Updated · Hollywood Reporter · Jun 24
Summary
Brussels is expected to clear Paramount’s $111 billion takeover of Warner Bros. Discovery before the EU’s deadline for opening an in-depth antitrust probe, according to the Financial Times.
The approval is expected to carry one condition: Paramount would exit its joint venture with Universal Pictures to address concerns over film distribution in international markets, though a final decision is still pending.
China, South Africa and the U.S. Justice Department have already approved the deal, while regulators in several European and other markets also found no antitrust breach or cleared related foreign-investment reviews.
Paramount argues the merger will strengthen competition against Netflix, Amazon and Apple, but a California-led coalition of states is still expected to sue within a month to try to block it.