UK May Intervene in Paramount-Skydance Warner Bros Discovery Deal

Britain said on Tuesday it could intervene in Paramount Skydance’s proposed takeover of Warner Bros Discovery, potentially holding up the US$110 billion deal after the US and China gave it the green light.

The move could see the deal referred to the UK’s antitrust regulator, which made headlines in 2023 when it blocked Microsoft’s US$69 billion acquisition of Call of Duty maker Activision Blizzard to the fury of the two US companies.

It later changed its mind after Microsoft amended its acquisition plan.

Britain’s possible intervention comes after the global deal has been cleared by the United States, ‌China, Australia, Germany, France and Saudi Arabia.

Britain’s culture minister Lisa Nandy, an ally of the man who is set to become Britain’s next prime minister in July, Andy Burnham, said the deal could have an impact on news, children’s television and streaming services in Britain.

“I am mindful of the need to reach a final decision in a timely manner and I will endeavour to do so as appropriate,” she said, adding that she had given the companies until July 6 to respond to her concerns.