The UK’s Competition and Markets Authority has given the green light to Paramount Skydance’s roughly $110 billion acquisition of Warner Bros. Discovery, concluding that the mega-deal doesn’t raise competition concerns in Britain.
What’s actually happening
Paramount Skydance, led by CEO David Ellison, announced its bid to acquire Warner Bros. Discovery at approximately $31 per WBD share in cash back in February 2026. The deal beat out competing interest from Netflix.
The CMA completed its Phase 2 review by June 9, 2026, before formally clearing the transaction on June 30. The US Department of Justice gave its own clearance on June 12, and the European Commission followed suit on July 22. Shareholders had already approved the acquisition back on April 23.
A US federal court temporarily paused the deal amid ongoing litigation, with proceedings expected to continue until August 17, 2026.
