Paramount Agrees to Quit UIP for $111 Billion WBD Merger as EU Extends Deadline to July 22
Updated
Updated · Variety · Jul 1
Paramount Agrees to Quit UIP for $111 Billion WBD Merger as EU Extends Deadline to July 22
3 articles · Updated · Variety · Jul 1
Summary
Paramount Skydance told EU regulators it will exit the United International Pictures joint venture with Universal, a concession sought for clearance of its $111 billion takeover of Warner Bros. Discovery.
The European Commission said the filing triggered a new provisional decision deadline of July 22, pushed back from July 7 after antitrust officials requested the UIP exit last week.
UIP, founded in 1981 and now active in markets including Denmark, Greece, Poland and Sweden, has been scaled back but remains a distribution foothold in several European territories.
The February deal would combine Paramount assets such as CBS, Paramount Pictures and Paramount+ with WBD businesses including HBO, Warner Bros. Pictures and CNN, creating one of the industry's largest media groups.
EU approval is among the last major hurdles, while the U.K. is also reviewing the merger and signaling possible intervention over media plurality rather than the $24 billion backing from Gulf investors.
Can the UK justify blocking a media merger already approved by the US Department of Justice?
As two Hollywood giants merge, will audiences see more creative blockbusters or just fewer, bigger bets on existing franchises?
With Middle Eastern funds holding a 38.5% stake, what firewalls will protect news outlets like CNN from potential foreign influence?
Paramount–Warner Bros. Discovery $110 Billion Merger: EU Approval, Global Regulatory Hurdles, and the Future of Streaming Powerhouses
Overview
The proposed merger of Paramount Global, Skydance Media, and Warner Bros. Discovery has cleared its biggest hurdle with U.S. Department of Justice approval, but now faces a crucial review by the European Union. The EU’s decision, expected by July 7, 2026, will likely depend on Paramount agreeing to remedies such as selling Universal International Pictures (UIP) to address antitrust concerns. If the EU accepts this concession, the path to finalizing the $110 billion merger becomes clearer, potentially reshaping the global media landscape by combining major franchises and strengthening competition in streaming and content distribution.