Paramount Skydance Corp.
(NASDAQ:PSKY) has secured European Union antitrust approval for its $110 billion acquisition of Warner Bros.
Discovery (NASDAQ:WBD) after agreeing to end its film distribution joint venture with Universal Pictures.
On Wednesday, the European Commission said Paramount's commitment to dissolve the United International Pictures joint venture in Europe within 13 months of closing the deal resolves its competition concerns.
The company will avoid film distribution agreements with Universal in Europe for 10 years and will not shift Warner’s theatrical film distribution to its own distributor, according to the European Commission.
