Key facts
- Britain's competition regulator has formally started a review of Paramount Skydance's $110 billion acquisition of Warner Bros Discovery.
- The review's first phase will assess potential harm to competition within the UK.
- The deadline for the initial phase of the review is August 7.
- Paramount outbid Netflix for Warner Bros, combining entities like CNN and CBS.
Britain's competition regulator, the Competition and Markets Authority (CMA), has formally commenced its review of the proposed $110 billion acquisition of Warner Bros Discovery by Paramount Global and Skydance Media. This marks the beginning of the first phase of the regulatory process, designed to determine if the merger could substantially lessen competition within the United Kingdom.