Paramount Skydance Corp.’s $110 billion takeover of Warner Bros. Discovery Inc. could face intervention from the UK government. Culture secretary Lisa Nandy intends to ask Britain’s media and competition watchdogs to examine the acquisition on the grounds of media plurality and competition.
The acquisition would create a media powerhouse controlling diverse assets, including the Hollywood studios responsible for franchises such as Superman, Batman, and Top Gun. The deal also encompasses the UK’s Channel 5, CNN, the Paramount+ and HBO Max streaming services, and TNT Sports, which broadcasts the Premier League, Champions League, and the Olympics.
Culture secretary Lisa Nandy has set a 6 July deadline for the companies to respond to her concerns regarding the takeover. This potential challenge follows the acquisition's approval without concessions by the Department of Justice in June.