UK CMA clears Paramount-Warner Bros £85bn merger

Published Aug 6, 12:42 PM UTC

The UK Competition and Markets Authority (CMA) has cleared the £85bn merger of Hollywood studios Paramount and Warner Bros, concluding it does not pose a threat to competition in the UK. The watchdog opened its inquiry on 9 June after Warner Bros' UK revenues exceeded £100m. Paramount, backed by billionaire Larry Ellison and his son David Ellison, won a bidding war against Netflix in February. The CMA found that while the merged entity would become the UK's largest theatrical film distributor, it would still face strong competition from Sony, Universal, Disney, and independent providers. Concerns about the merger of children's TV channels and streaming platforms Paramount+, HBO Max, and Discovery+ were dismissed due to declining demand for paid children's TV and a crowded streaming market with Netflix, Amazon Prime, and Disney Plus. Culture Secretary Lisa Nandy had requested the probe to ensure the deal did not stifle the UK's media landscape. The CMA decided not to refer the merger to a phase two investigation.