Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeNewsRetail & MarketingParamount’s stalled US$110 billion Warner deal wins U.K. nodBritain was among the last remaining regulatory hurdles that Paramount chief executive David Ellison has overcomeAuthor of the article:Last updated 2 hours ago You can save this article by registering for free here. Or sign-in if you have an account.To allay U.K. fears, Paramount offered protection against consolidation, ensuring separate editorial identities for TV channels, streaming services and children’s television channels Photo by Mario Tama/Getty ImagesParamount Skydance Corp.’s stalled US$110 billion takeover of Warner Bros. Discovery Inc. got some regulatory respite after Britain’s antitrust watchdog and culture minister both decided against escalating their scrutiny of a proposed deal that faces mounting opposition in the United States.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Competition and Markets Authority said on Thursday it decided against referring the merger for a deeper so-called Phase 2 investigation, saying the takeover doesn’t raise any competition concerns in Britain. Lisa Nandy, secretary of state for culture, media and sport, meanwhile opted against intervening following “assurances and legally-binding commitments” from Paramount.“The evidence shows that, after the merger, Paramount will continue to face sufficient competition in the various areas it operates in, including the production and distribution of films and TV content, the supply of children’s channels to pay-TV providers and the supply of streaming services,” the CMA said in its statementBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againThe decisions mean Paramount can focus on the legal challenge from 12 U.S. states and the Writers Guild of America trade union that forced it to put the deal on hold. The transaction to combine two major Hollywood studios, two streaming services and two large operators of cable-TV channels won conditional approval from the European Union last month.“The conclusions reached by the CMA directly refute the assumptions that underpin” the U.S. state attorneys general’s “complaint seeking to block the transaction, despite federal approval,” Paramount said in a statement on Thursday. “These conclusions further demonstrate the misguided and gerrymandered market definitions relied upon by the U.S. state AGs in their antitrust complaint in California,” it said.Clearance in sixty-six jurisdictions showed that the combination will “create a scaled media and entertainment company capable of competing with the tech companies that have come to dominate the industry,” Paramount said in its statement on the United Kingdom clearance.Eventually completing the transaction would give the Ellison family control of one of the most powerful media empires in the world. The takeover unites two Hollywood studios behind legendary films from Casablanca and Harry Potter to Mission: Impossible; two major news networks in CNN and CBS; the streaming powerhouse HBO Max and dozens of cable networks.Britain was among the last remaining regulatory hurdles that Paramount chief executive David Ellison has overcome after outmanoeuvring rival suitor Netflix Inc. in a bidding war that took more than five months.Nandy, who kept her role after Andy Burnham replaced Keir Starmer as prime minister last month, previously flagged concerns that the combination could have led to concentration of ownership and voices in the media. When the CMA opened its investigation, it flagged potential competition concerns in the country’s film and TV industry.To allay U.K. fears, Paramount offered protection against consolidation, ensuring separate editorial identities for TV channels, streaming services and children’s television channels, including Nickelodeon and Cartoon Network. Most undertakings will remain for a duration of five years after the deal is completed, according to the commitments made by Paramount.“Paramount acknowledges and agrees that the undertaking period may be extended by mutual written agreement of Paramount and the secretary of state,” the company said in its offer to watchdogs. Paramount also vowed to keep Channel 5 News editorially independent and separate from CNN International and CBS News.“Other than the publicly announced combination of HBO Max and Paramount+,” the company said it “does not intend to consolidate any of the combined group’s linear channels with the on-demand services,” in the UK for the five years after the deal is completed. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.