Paramount concessions lead UK to approve takeover of Warner Bros
The UK government has approved Paramount's £85bn acquisition of Warner Bros Discovery after securing concessions to protect UK-based content and public service broadcasting. Paramount agreed to maintain Channel 5's editorial independence and public service obligations until 2034.
Why it matters
This deal creates a massive global media entity while highlighting the UK's regulatory power to protect domestic media interests during international mergers.
Lisa Nandy in Downing Street. The acquisition still faces a big final hurdle in the US. Photograph: Anadolu/Getty Lisa Nandy in Downing Street. The acquisition still faces a big final hurdle in the US. Photograph: Anadolu/Getty Mergers and acquisitions Paramount concessions lead UK to approve takeover of Warner Bros Culture secretary Lisa Nandy says she will not intervene in £85bn deal after securing guarantees on Channel 5
Prefer the Guardian on Google The UK culture secretary, Lisa Nandy, has said she will not intervene in Paramount’s proposed acquisition of Warner Bros Discovery, removing one of the remaining obstacles to the blockbuster deal.
However, Paramount has made significant concessions to secure the UK government’s backing for the $110bn (£85bn) takeover, which will create a global media powerhouse and effectively bolster the influence of Paramount’s chief executive, David Ellison.
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