Key facts
- UK culture minister Lisa Nandy is considering intervening in the proposed $110 billion takeover of Warner Bros Discovery by Paramount Global.
- The intervention is being considered due to concerns about media plurality.
- Regulators Ofcom and the CMA will be asked to examine the acquisition.
- Paramount Skydance Corp has offered remedies to address EU competition concerns regarding the acquisition.
- The European Commission has extended its decision deadline for the deal to July 22.
Britain's culture minister, Lisa Nandy, is considering intervening in the proposed $110 billion takeover of Warner Bros Discovery by Paramount Global, citing concerns about media plurality. As part of this review, UK regulators Ofcom and the CMA will examine the acquisition. Meanwhile, Paramount Skydance Corp has offered remedies to address European Union competition concerns, leading the European Commission to extend its decision deadline to July 22. The company is confident the remedies will lead to timely clearance, though a person familiar with the matter indicated Paramount might divest its film distribution joint venture with Universal Pictures. The U.S. Department of Justice has cleared the deal, but state-level lawsuits in the U.S. are still a potential hurdle.