The UK’s competition regulator, the Competition and Markets Authority (CMA), has today (June 9) launched its inquiry into the Paramount and Warner
The UK’s competition regulator, the Competition and Markets Authority (CMA), has today (June 9) launched its inquiry into the Paramount and Warner Bros Discovery merger.
The CMA, which is a non-ministerial government department, has a deadline of August 7 to decide whether to refer the merger for a second phase of investigation.
From April 13-27, the CMA opened an ‘invitation to comment’ to allow any interested parties to submit initial views on the impact that the transaction could have on competition in the UK.
In the UK, as well as merging two major film studios, it will bring streamers Paramount+ and recently launched HBO Max under the same ownership, as well as UK broadcaster 5 and a host of production assets.
Last week, Paramount sought European Union (EU) antitrust approval for the proposed $110bn takeover. The European Commission will decide on July 7 whether to clear the deal with or without remedies, or to open a full-scale investigation.
In the US, states including California and New York are preparing to file a lawsuit against the proposed merger, with thousands of on and off-screen creatives signing a letter earlier this year expressing “unequivocal opposition” to the deal.
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