– Britain’s antitrust watchdog is expected to launch an investigation into Paramount Skydance‘s planned $110 billion acquisition of Warner Bros Discovery in “the coming weeks,” a spokesperson said on Monday.
“The film and TV industries contribute billions to our economy, so it’s important we assess whether deals between studios may harm competition … We expect to launch our phase 1 investigation in the coming weeks,” a Competition and Markets Authority (CMA) spokesperson said in an emailed statement to Reuters.
The CMA had earlier sought views on the deal’s competitive compliance, a standard step in its information-gathering process before it decides on whether to formally launch an investigation into a deal.
The regulator has given interested parties until April 27 to comment.
Paramount and Warner Bros did not immediately respond to Reuters’ request for comments.
Separately, more than 1,000 writers, actors and directors released an open letter on Monday opposing the deal, saying it would harm Hollywood’s already distressed entertainment industry. Among those who signed the letter are actors Jane Fonda, Mark Ruffalo and Ben Stiller.
The Paramount-Warner Bros deal was announced in February nL6N3ZN196 following a weeks-long bidding war with Netflix.
(Reporting by Prerna Bedi in Bengaluru; Editing by Harikrishnan Nair)
