Paramount-Warner Bros merger nears EU clearance with conditions
The European Commission is expected to clear the $111 billion merger of Paramount and Warner Bros. ahead of a July 7 deadline, according to reporting cited by Variety, with regulators still finalizing the conditions attached to approval. The deal cleared the US Justice Department’s antitrust division earlier in June and remains under review in the United Kingdom.
EU approval is expected to come with remedies addressing competition concerns. One option under discussion would require Paramount, led by CEO David Ellison, to exit a joint venture with Universal Pictures for international film distribution, though Variety reports no final decision had been made. The combined company would be one of the largest in global media; the transaction, struck in February, also includes a $24 billion investment from Saudi Arabia’s Public Investment Fund, Abu Dhabi’s L’imad Holding and the Qatar Investment Authority.
Clearing Brussels would remove one of the last major regulatory hurdles to a deal that consolidates two of Hollywood’s largest studios and streaming operations. Until the Commission publishes its decision and any binding remedies, the precise shape of the merged company — particularly which assets Paramount must give up — stays unsettled.