Paramount Skydance will pull out of United International Pictures, its international distribution joint venture with Universal, to allay antitrust concerns voiced by European cinema operators.

Paramount Skydance's $110 billion takeover of Warner Bros. Discovery cleared US DOJ review but faces UK CMA scrutiny over media ownership concerns.

Paramount is set to exit its UIP joint venture with Universal as a condition to obtain EU approval of its megamerger with Warner Bros. Discovery.