The European Commission is reportedly preparing to give conditional approval for Paramount Skydance’s acquisition of Warner Bros Discovery.
The $111 billion mega-merger would be subject to a series of competition and regulatory conditions set by the European Commission. These conditions are still under negotiation, and one possible requirement could involve Paramount withdrawing from its joint film distribution venture with Universal Pictures.
The deal is also being reviewed under the EU’s “foreign subsidies” regulation framework. While the U.S. Department of Justice has already approved the transaction, some states, including California, may still pursue legal action on antitrust grounds. In the United Kingdom, the Competition and Markets Authority has also launched an investigation into the proposed merger.
If approved, the combined entity would bring together major brands such as HBO, CNN, CBS, Paramount Pictures, and Warner Bros under one corporate structure. The European Commission’s final decision deadline is July 7.
