The UK’s Competition and Markets Authority (CMA) has confirmed it has launched an investigation into Paramount’s planned acquisition of Warner Bros Discovery.
The CMA initially called for the submission of initial views on how the transaction might affect competition in the country in April.
It has now announced that it is considering whether the deal would result in “a substantial lessening of competition within any market or markets in the United Kingdom for goods or services”.
The CMA has set a deadline of 7th August 2026 for its phase 1 decision.
Following protracted negotiations and an intense bidding war over the winter, Paramount agreed a deal with WBD earlier this year offering $31 per share for the media giant.
In April, over 1,400 actors, directors and filmmakers signed an open letter stating they were “deeply concerned by indications of support for this merger that prioritise the interests of a small group of powerful stakeholders over the broader public good.”
“The integrity, independence and diversity of our industry would be grievously compromised. Competition is essential for a healthy economy and a healthy democracy. So is thoughtful regulation and enforcement,” added the letter.
