Paramount-Warner Bros. Discovery merger cleared by UK competition authority
The UK’s Competition and Markets Authority (CMA) has cleared the $110bn merger between Paramount Skydance and Warner Bros. Discovery, ruling that the deal will not substantially lessen competition in the British market. The decision, announced on 6 August 2026, removes one of the final regulatory hurdles for the transaction, which has already secured approvals in 66 jurisdictions worldwide.
The CMA’s review focused on theatrical film distribution, children’s television channels and streaming services. It concluded that sufficient competition remains from Disney, Universal, Sony, Netflix, Apple TV, Disney+, Prime Video, BBC iPlayer and ITVX. The regulator noted that the combined entity would continue to face strong rivals across both broadcast and digital platforms.
Culture Secretary Lisa Nandy had earlier signalled she was “minded to intervene” but ultimately accepted binding commitments from Paramount. These include maintaining editorial independence for Channel 5 News until its licence expires in 2034, keeping linear and streaming services separate for at least five years, and ensuring UK commissioning levels are not reduced. The government confirmed it would not block the merger following these undertakings.
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The UK clearance follows approvals from the US Department of Justice in June and the European Commission in July, the latter attaching conditions to safeguard competition. While the merger is now free to proceed in the UK, litigation remains in the United States, where a coalition of state attorneys general is seeking to block the deal on antitrust grounds.
For the UK industry, the CMA’s decision paves the way for Paramount Skydance and Warner Bros. Discovery to integrate operations, including plans to combine Paramount+ and HBO Max into a single streaming service. The commitments secured by government are intended to protect plurality in news and children’s programming, while ensuring audiences continue to benefit from a competitive streaming environment.
