Paramount Skydance says that it has now been cleared by all global regulators to complete its $111 billion deal for Warner Bros. Discovery … with that antitrust lawsuit filed by the 12 attorneys general now serving as the sole roadblock to the deal being done.
The company says that the government of Mexico approved the deal Friday, meaning that 68 countries have now signed off on the mega-merger.
“We are grateful that competition authorities in nearly 70 jurisdictions worldwide have independently and thoroughly reviewed this transaction and reached the same conclusion: it is pro-competitive, pro-consumer and pro-worker,” said David Ellison, the CEO of Paramount, in a statement Friday. “Despite this overwhelming global consensus, the litigation brought by the state of California and 11 other state AGs remains the final obstacle to completing a combination that will create a stronger competitor with greater capacity to invest in premium content, support creative talent and workers and deliver more high-quality entertainment to audiences.”
The company says that it is asking the AGs to negotiate “in good faith,” with Ellison suggesting that it is prepared to offer commitments to get the deal over the line (what those are remains to be seen).
