EU Approves Paramount-warner Bros. Merger; UK Approval Pending

WHO:

Variety - Paramount, Warner Bros. Discovery, European Commission, Competition and Markets Authority (CMA), Justice Department, Larry Ellison, Makan Delrahim.

The Hollywood Reporter - A coalition of states led by California, New York, Colorado, Oregon, Nevada, Washington, Connecticut, Tennessee.

WHAT:

Variety - Paramount is undertaking a $111 billion takeover of Warner Bros. Discovery.

The Hollywood Reporter - The European Commission is expected to approve the merger, which will include a condition for Paramount to exit its joint venture with Universal Pictures.

The Hollywood Reporter - Antitrust enforcers in Saudi Arabia, Ukraine, Serbia, and North Macedonia have found that the deal does not violate antitrust laws.

The Hollywood Reporter - The Justice Department concluded that the acquisition will increase competition across the media and entertainment ecosystem.

The Hollywood Reporter - A lawsuit aiming to block the merger is expected to be filed within a month.

WHERE:

Variety - The merger is being reviewed by regulators in the European Union and the United Kingdom.

The Hollywood Reporter - The merger has been cleared by regulators in China and South Africa.

WHEN:

The Hollywood Reporter - A final decision from the European Commission has not been made yet.

The Hollywood Reporter - The lawsuit to challenge the merger is expected to be filed within a month.

WHY:

The Hollywood Reporter - Paramount argues that the merger is necessary to compete against tech giants like Netflix, Amazon, and Apple.

The Hollywood Reporter - The Justice Department stated that the merger will not harm markets for streaming, linear TV, or film distribution.

HOW:

The Hollywood Reporter - Paramount has engaged with regulatory bodies in a constructive and transparent manner.

The Hollywood Reporter - The Justice Department conducted a thorough investigation of the proposed transaction to assess potential harm to competition.

(UPDATED June 25, 2026 17:49 UTC)

Paramount is moving forward with a massive $111 billion takeover of Warner Bros. Discovery, and the European Commission is expected to approve the merger, contingent on Paramount exiting its joint venture with Universal Pictures. While regulators in China and South Africa have already cleared the deal, a lawsuit to block the merger is anticipated to be filed within a month by a coalition of states led by California and New York. The Justice Department has concluded that the acquisition will enhance competition in the media and entertainment landscape, asserting that it will not negatively impact markets for streaming, linear TV, or film distribution.