What Happened
Mega-Merger With Warner Bros. Discovery Clears Regulatory Hurdle
Paramount is set to exit its United International Pictures distribution joint venture with Universal as a condition for EU approval of its $111 billion takeover of Warner Bros. Discovery. The move comes in response to a request from the European Commission’s antitrust watchdog and is seen as a key step towards completing the mega-merger. The deal, which would bring together a range of media assets including CBS, HBO, and Paramount+, is undergoing regulatory review in several countries, including the UK. The development was first reported by Variety Australia.