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UK Approves Paramount-Warner Bros. Discovery Merger After Binding Commitments
['Donya Essassi', 'Jihane Rahhou', 'Barlaman Today']
Barlaman Today
The U.K. approved Paramount’s $110 billion acquisition of Warner Bros.
Discovery on Thursday after the government and the Competition and Markets Authority (CMA) accepted legally binding commitments from Paramount Skydance CEO David Ellison, according to Reuters.
Under the agreement, Paramount will maintain separate editorial identities for the combined group’s linear television channels and streaming services in Britain for five years.
Paramount further agreed that the merger would not reduce the number of commissioners responsible for content in Britain or diminish the quality and range of programming commissioned.
Separately, the CMA concluded that the acquisition would not substantially reduce competition in movie distribution, children’s television channels, or streaming services.