EU Approves Paramount's $110B Warner Bros. Acquisition with Conditions

The European Commission has approved Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery, subject to conditions addressing competition concerns in film distribution. Paramount must exit its joint venture UIP (United International Pictures) with Universal within 13 months and refrain from new distribution agreements with Universal in the European Economic Area for ten years. The deal, initially proposed in December 2025 as a hostile bid, faced legal challenges: a California federal judge issued a 14-day temporary suspension following a lawsuit by 12 US states alleging reduced competition, harm to workers, and increased consumer costs. A decision on extending the suspension is expected on August 3. The acquisition also requires UK government approval.