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UK approves Paramount's takeover of Warner Bros Discovery
The deal clears UK media oversight after guarantees that Channel 5 will operate as a public service broadcaster until the end of 2034 and retain editorial independence.
The UK government has approved Paramount Skydance’s proposed $110 billion takeover of Warner Bros Discovery, removing a key obstacle after Culture Secretary Lisa Nandy said she would not intervene in the deal.
According to the Guardian Business, Nandy ordered Britain’s media and competition watchdogs to review the transaction in June, and she later greenlit it with conditions focused on protecting UK-based content.
Under the UK guarantees, Channel 5 will continue to operate as a public service broadcaster until the end of 2034, Channel 5 News will retain editorial independence, and Paramount agreed that its linear and on-demand services in Britain would preserve distinct editorial identities for five years.
SCMP Economy reported that the Competition and Markets Authority also cleared the deal after earlier concerns, and while the UK approval is a step forward, the acquisition still faces a major final hurdle in the United States following a legal challenge by a coalition of US status and writers’ guilds.