European Union Approves Paramount-Universal Merger with Conditions

The European Union has granted conditional approval for the US$110 billion acquisition of Warner Bros. Discovery by Paramount Skydance. As part of the approval, Paramount must divest its share in United International Pictures within the European Economic Area. Additionally, the EU has imposed a ten-year ban on Paramount and Universal from engaging in joint film co-distribution agreements in the EEA, aiming to mitigate concerns regarding market competition in film distribution.