UK authorities have approved Paramount's $111 billion takeover of Warner Bros. Discovery, removing a major regulatory hurdle for the industry-reshaping merger. British culture secretary Lisa Nandy said she will not intervene in the deal, despite having previously indicated she was “minded” to examine it more closely. The Competition and Markets Authority also cleared the acquisition, concluding that the combined company would continue to face competition from Universal, Disney, Sony, and other smaller studios. In a separate development, Warner Bros. Discovery reported that its streaming segment surpassed $3 million in revenue for the second quarter, a 10% increase from the same period last year. The approval clears the way for the merger to proceed, creating one of the largest entertainment companies in the world.