The UK's Competition and Markets Authority has cleared Paramount Skydance's proposed $111 billion acquisition of Warner Bros. Discovery, prompting a wave of support from European media executives and analysts. Industry figures argue the approval, following the European Commission's clearance last month, signals a broader shift in regulatory attitudes as European broadcasters contend with intensifying competition from global streaming platforms.

The CMA concluded on Thursday that the merger would not significantly harm competition in theatrical film distribution, linear children's television channels, or subscription video-on-demand services in Britain. The decision follows an intensive lobbying effort by Skydance chief David Ellison, who met figures including French President Emmanuel Macron and UK Culture Secretary Lisa Nandy to argue traditional media firms must consolidate to compete with streaming giants. Vue founder Tim Richards welcomed the ruling as a milestone after "six years of disruption", spanning the pandemic and Hollywood strikes, and called on remaining regulators to grant final certainty swiftly. The approval also marks a notable softening from the CMA's previous tougher stance, seen in its initial blocking of Microsoft's Activision Blizzard deal and its forced unwinding of Meta's Giphy acquisition.