The U.K. has cleared Paramount Skydance’s $110 billion acquisition of Warner Bros. on competition grounds.
The British government added that it would not intervene in the transaction on public interest grounds after Paramount beefed up promises about programming and news provision in the U.K.
In a statement, the U.K.’s Department of Culture, Media and Sport said, “Today, the Competition and Markets Authority have announced their decision that there are no competition aspects of this proposed merger in the U.K. which necessitate their further intervention.”
A Paramount spokesperson said in a statement, “These conclusions further demonstrate the misguided and gerrymandered market definitions relied upon by the U.S. state AGs in their antitrust complaint in California.”
More to follow.
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