The record
Written from the 1 report below. Nothing here is unsourced.
- Paramount Skydance has received European Union antitrust approval for its $110 billion acquisition of Warner Bros Discovery after agreeing to end its United International Pictures film distribution joint venture with Universal in Europe within 13 months of closing.
- The company also committed not to strike any film distribution deal with Universal in Europe for 10 years and not to move Warner's theatrical distribution in-house, which the European Commission said resolved its competition concerns.
- However, the deal still faces major hurdles elsewhere: a US court has ordered a pause following a challenge from a coalition of states, and a delay past September 30 would cost Paramount about $7 million per day in ticking fees to Warner Bros. shareholders.
- The Writers Guild of America has also sued over the merger, and Britain has signalled it may intervene over potential impacts on news, children's television and streaming.
What to watch next
- Outcome of the US court case brought by the California-led state coalition and how long the deal pause lasts
- Accumulating ticking fees if the merger is delayed past September 30
- Whether Britain formally intervenes over impacts on news, children's TV and streaming
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Named United States · United Kingdom · United International Pictures · Warner Bros. Discovery · California-led coalition of states · David Ellison · European Commission · Paramount Skydance Corp · United States Department of Justice · Universal Pictures · Writers Guild of America
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