The European Commission has approved the merger of Paramount Skydance and Warner Bros. Discovery, clearing one of the last major regulatory hurdles for the $111 billion deal. The approval follows antitrust reviews by regulators in more than a dozen other countries, which have also given the green light.
As a condition of the European Union's approval, Paramount has agreed to end its film distribution partnership with Universal in Europe within the next 13 months. This concession addresses competition concerns in the region.
The deal now faces remaining challenges, including legal opposition in the United States and ongoing regulatory uncertainty elsewhere. Despite those issues, the EU's decision marks a significant step forward for the media mega-merger, which would combine two of Hollywood's largest studios.
The transaction is expected to reshape the entertainment industry, bringing together iconic brands and vast content libraries. No timeline for closing has been announced.