UK CMA clears £111bn Paramount-Warner Bros Discovery merger

Published Aug 17, 03:58 PM UTC

The UK's Competition and Markets Authority (CMA) has cleared the £111 billion merger between Paramount and Warner Bros Discovery, concluding that the combined Hollywood giant will face sufficient competition in the UK market. In a 23-page decision published Monday, the CMA examined potential impacts on cinemas, streaming, children's television, and creative workers. While the merged entity is expected to become the UK's largest theatrical film distributor with a 20-30% market share, the watchdog noted that Universal and Disney hold similar shares, and Sony along with smaller studios provide further competition. The CMA rejected concerns from cinemas about reduced film releases or worsened revenue terms, and dismissed fears that the deal would weaken bargaining power for creative workers. On streaming, the combined Paramount+, HBO Max, and Discovery+ will still compete against Netflix, Amazon Prime Video, Disney+, Apple, and free services. The deal has secured regulatory approval in 68 countries, with a lawsuit from California and 11 other US states remaining as the final obstacle.