EU Conditionally Clears Paramount Skydance's $110 Billion Warner Deal
Updated
Updated · Bloomberg · Jul 23
EU Conditionally Clears Paramount Skydance's $110 Billion Warner Deal
3 articles · Updated · Bloomberg · Jul 23
Summary
The European Commission granted conditional approval to Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery, removing a key regulatory hurdle for the media merger.
EU officials said competition concerns were resolved after Paramount agreed to end a longstanding European distribution agreement with Universal Pictures.
Under the commitments, Paramount must exit that Universal accord within 13 months after the deal closes.
The approval strengthens the transaction in Europe, but the takeover still faces a high-stakes US lawsuit that could threaten its progress.