Britain said on June 30, 2026, it could intervene in Paramount Skydance Corp's proposed $110 billion takeover of Warner Bros Discovery amid concerns over the deal’s impact on news, children’s TV, and streaming services in the UK [1, 2, 3].
The $110 billion deal has already been cleared by regulators in the United States, China, Australia, Germany, France, and Saudi Arabia [1, 2]. However, the UK culture minister Lisa Nandy set a July 6 deadline for Paramount and Warner Bros Discovery to respond to regulatory concerns [1, 2]. Nandy said, "I am mindful of the need to reach a final decision in a timely manner and I will endeavour to do so as appropriate" [2].
Paramount owns Channel 5 in the UK, which broadcasts news programs. Warner owns CNN International. Other UK businesses potentially affected include TNT Sports, Cartoon Network, Nickelodeon, Paramount+, and HBO Max [1].
The UK’s current antitrust laws do not cover on-demand streaming services well, as the legislation was designed before streaming became widespread [1]. This regulatory gap is part of the reason for closer scrutiny.
Paramount offered a "ticking fee" of 25 cents per share per quarter beyond September 30, 2026, which would amount to roughly $650 million in cash each quarter as an incentive to ensure a timely deal closure [1].
British regulators previously blocked Microsoft's $69 billion acquisition of Activision Blizzard in 2023 before later approving it after amendments to the deal [1, 2]. This precedent suggests the UK may require changes before approving the Paramount-Warner deal.
The July 6 deadline set by the UK culture minister is the next important milestone as regulators await responses from the companies on how they plan to address the UK’s concerns regarding news provision, children’s programming, and streaming competition [1, 2].
