WASHINGTON (dpa-AFX) - The UK government said it is likely to intervene in Paramount Skydance's proposed $110 billion acquisition of Warner Bros. Discovery, raising a potential obstacle to completing the merger.
UK Culture Secretary Lisa Nandy said she is 'minded to intervene' over concerns that the deal could reduce media diversity and the plurality of news ownership. The companies have been given one week to respond before a final decision is made.
If the government proceeds, UK media regulator Ofcom would conduct a public interest review alongside an existing Competition and Markets Authority investigation, potentially delaying the transaction.
Paramount said it remains confident the merger does not pose media plurality concerns in the UK and expects the deal to close in the third quarter of 2026.
The merger has already received U.S. Justice Department approval without concessions, although it continues to face reviews by other regulators, including a U.S. federal committee examining foreign financing and a coalition of state attorneys general considering legal action.
Under the merger agreement, if approvals are not secured by the end of September, the purchase price will increase by 25 cents per Warner Bros. Discovery share for each additional quarter until the deal closes.
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