The United Kingdom’s Competition and Markets Authority has approved the $110 billion merger of Paramount and Warner Bros., stating that the deal does not raise competition concerns in the country.
In a statement, the agency said: “We have approved this agreement because it does not raise concerns about competition in the UK. The data shows that after the merger, Paramount will continue to face sufficient competition in the various areas where it operates.”
Paramount has also pledged to maintain the separate editorial identity of key services and the independence of news divisions, with these commitments set to become legally binding obligations.
The U.S. Department of Justice approved the merger on June 13 without requiring the sale of assets or concessions and without imposing new regulatory requirements. The transaction is expected to close shortly.
