Paramount’s £80bn takeover of Warner Brothers a step closer after EU approval

From the publisher

Paramount Skydance’s £80bn takeover of Warner Brothers took a step closer to being realised after it won conditional approval from the European Union. The European Commission said Paramount’s offer to ⁠end a film ⁠distribution joint venture with Universal Pictures addressed its concerns over the potential merger. As part of its commitments in the EU, Paramount has 13 months from the date of closing the deal to pull out from the venture. “These commitments fully address the competition concerns identified by the commission by ensuring that the films of the merged entity will not be distributed jointly with those of Universal or Disney,” EU competition regulators said in a statement. They…

The source's own excerpt, unedited