U.K. Approves Paramount-Warner Bros. Merger
Developing story first seen 2 hours ago
The UK government has approved Paramount Skydance's $111 billion acquisition of Warner Bros, clearing the deal on both competition and public interest grounds. The Competition and Markets Authority found no competition concerns requiring further intervention, while Culture Secretary Lisa Nandy declined to issue a Public Interest Intervention Notice after Paramount strengthened its commitments on UK programming and news provision, protecting media plurality and broadcasting diversity in the country.
Paramount gave several legally-binding assurances, including keeping its linear channels editorially distinct from on-demand services, preserving Nickelodeon and Cartoon Network's commitment to original UK children's content, and safeguarding Channel 5 News's editorial independence from CBS News and CNN International, while keeping CNN International available in the UK. Channel 5 will continue as a Public Service Broadcaster with increased funding for news, children's programming and drama. A Paramount spokesperson also used the ruling to criticise the "gerrymandered market definitions" underpinning a separate antitrust complaint from US state attorneys general in California.
- UK clears Paramount's $111bn Warner Bros takeover on competition and public interest grounds
- Paramount pledged to protect Channel 5 News editorial independence and UK content
- Culture Secretary Lisa Nandy cited legally-binding commitments in her decision
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Paramount Skydance and Warner Bros are two major American media companies. Paramount, which owns brands including Channel 5 in the UK, Nickelodeon and CBS, has been trying to buy Warner Bros, the owner of CNN International among other assets, in a deal worth around $111 billion. Because both companies operate in the UK, the merger needed sign-off from British regulators before it could go ahead here.
Two separate checks were involved. The Competition and Markets Authority looks at whether a deal would reduce competition or harm consumers, while the Culture Secretary can intervene separately to protect "media plurality," meaning a healthy mix of independent voices in news and broadcasting, and diversity in what is shown on air.
This matters because Channel 5 is a Public Service Broadcaster, a status that comes with specific obligations to provide UK-made news, children's programmes and other content in the public interest. Any change of ownership raises questions about whether those commitments, along with the independence of Channel 5's newsroom and the availability of services like CNN International, would be preserved under new American owners.
More coverage
- The Hollywood Reporter — U.K. Competition Watchdog Approves Paramount-Warner Bros. Discovery Mega-Deal
- Deadline — Paramount’s Takeover Of Warner Bros. Cleared By UK Authorities