Paramount-Warner: UK Competition Watchdog Seeks Views On Deal Ahead Of Formal Probe
The UK’s antitrust authority has taken its first step towards launching a formal investigation into the $110B merger between Paramount and Warner Bros. Discovery.
The Competition and Markets Authority said it was seeking comments from interested parties ahead of commencing a deeper examination of a deal that will reshape the global media landscape.
“The CMA is issuing this ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the transaction could have on competition in the UK,” the CMA said.
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“The CMA has not yet launched its formal investigation into this transaction. This invitation to comment is the first part of the CMA’s information-gathering process.”
The deadline for comments is April 27. Poor Things star Mark Ruffalo posted a link to the CMA’s merger inquiry page. Paramount and WBD have been approached for comment.
Paramount Skydance CEO David Ellison visited the UK earlier this year as part of a charm offensive of European regulators. He met with UK culture secretary Lisa Nandy, as well as prominent European creatives.
The CMA’s work got underway as JJ Abrams, Damon Lindelof, David Fincher, and Denis Villeneuve were the Hollywood luminaries who signed an open letter opposing the Paramount-Warner merger, calling the transaction one that will “threaten the sustainability of the entire creative community.”
