Paramount Skydance Corp has put forward remedies aimed at addressing European Union competition concerns over its planned $110 billion acquisition of Warner Bros Discovery, according to a regulatory filing released Wednesday. A source familiar with the matter told Reuters last week that the proposal was likely to secure approval from the European Commission.
Paramount Seeks To Defuse Antitrust Objections
In its filing, Paramount said it was “confident that this remedy directly and comprehensively addresses any concerns expressed in the European Commission’s preliminary assessment and supports the path for timely clearance.”
Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram
The European Commission, which serves as the EU’s antitrust watchdog, has not disclosed the substance of the remedies, consistent with its standard practice.
Film Distribution Venture In Focus
According to a person with direct knowledge of the discussions, Paramount is expected to propose abandoning its film distribution joint venture with Universal Pictures in an effort to ease antitrust concerns raised by European cinema operators.
The Commission has already extended its review deadline to July 22 from July 7, giving regulators additional time to assess the proposed remedy package.
Regulatory Risk Remains On Both Sides Of The Atlantic
In the United States, the Department of Justice has cleared the transaction. Even so, the deal could still face significant opposition from state regulators, with California, New York and other states reportedly preparing a lawsuit to block the acquisition, according to Reuters sources.
Meanwhile, the United Kingdom signaled on Tuesday that it may also intervene, citing potential implications for news, children’s television and streaming services.
For Paramount, the message is clear: the merger may be winning support from federal regulators, but the path to completion remains politically and legally complex on both sides of the Atlantic.
