Paramount Skydance's $110 billion takeover of Warner Bros Discovery is on track for European Union approval, with the buyer prepared to allay concerns over film distribution flagged by the bloc's competition chief Teresa Ribera.Paramount is open to an EU demand to ditch a joint venture with Universal Pictures in return for regulatory clearance, according to sources who spoke on condition of anonymity.FT reported earlier that watchdogs would give the nod provided the remedies were accepted by Paramount. The EU has a current deadline of July 7 to decide whether to escalate its probe or not.EU merger rules give buyers only a short window of opportunity to allay potential competition concerns during an initial phase 1 probe.
Paramount’s $110 billion Warner Bros takeover on track for EU approval
Paramount Skydances proposed $110 billion acquisition of Warner Bros Discovery is reportedly moving closer to approval from the European Union, after the company indicated it is willing to address regulatory concerns around film distribution.
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