Despite the fact that most industry experts expect Paramount’s acquisition of Warner Bros Discovery to close in September, there are now reports that it could happen as early as July.
The deal is expected to close by the third quarter, or 30th September.
However, according to Oliver Darcy’s Status, Paramount is eyeing 15th July as its target date to finalise the deal.
The deal has already been approved by WBD shareholders, but still faces regulatory hurdles in the UK, Europe and US.
Earlier this month, the UK’s trade union for the media and entertainment industry Bectu, wrote to the government urging it to reject the $111 billion deal.
In a letter to media minister Ian Murray, Bectu set out its concerns about the impact the deal could have on the UK’s creative workforce, particularly freelancers, and urged ministers to intervene to protect plurality in the country’s media ownership.
The Competition and Markets Authority opened an inquiry into the acquisition last month, inviting the submission of initial views on how the transaction might affect competition in the country.
