The UK Competition and Markets Authority (CMA) is reviewing the proposed $111 billion acquisition of Warner Bros. Discovery by Paramount and Skydance. Regulators expect to launch a formal phase one investigation in the coming weeks. Interested parties have until April 27 to submit initial views on how the merger impacts competition in the UK's film and television industries.
More than 1,000 writers, actors, and directors signed an open letter opposing the landmark deal. This group argues the consolidation will harm the entertainment sector. Paramount shares declined in pre-market trading following the regulatory announcement.