UK signals intervention in Paramount’s $110B Warner Bros. deal

British Culture Secretary Lisa Nandy said on Tuesday she is "minded to intervene" in Paramount Skydance Corp's proposed $110 billion takeover of Warner Bros. Discovery ↗ 1.13%, raising the prospect of a formal regulatory review that could delay one of the largest media deals in history.

Concerns Over British Audiences

Nandy's department wrote to both the current and proposed owners of Warner Bros. Discovery to inform them of her position, she said in a written statement to Parliament. Her assessment focused on the deal's potential impact on British audiences across services including Channel 5, TNT Sports, Cartoon Network, Nickelodeon, CNN International, and streaming platforms Paramount+ and HBO Max.investing+3

"I am mindful of the need to reach a final decision in a timely manner, and I will endeavour to do so as appropriate," Nandy said. She set a July 6 deadline for the companies to respond before deciding whether to issue a formal Public Interest Intervention Notice.finance.yahoo

If issued, such a notice would trigger parallel reviews by media regulator Ofcom and the Competition and Markets Authority, which have up to 40 days to report back. Nandy would then decide whether to clear the deal or refer it for a further investigation lasting up to 24 weeks. Nandy also said she is considering whether to expand public interest rules to better reflect the growing role of on-demand viewing.devdiscourse+2

A Deal Under Global Scrutiny

The Reuters report noted that the deal has already been cleared by the United States, China, Australia, Germany, France, and Saudi Arabia. The U.S. Department of Justice granted unconditional approval in mid-June, stating the combination "is not likely to harm competition or American consumers". The European Union is also reportedly preparing to approve the transaction, contingent on Paramount agreeing to divest a joint venture with Universal Pictures.kfgo+3

The CMA separately opened its own Phase 1 competition investigation into the merger earlier this month, with an initial deadline of August 7 to determine whether to escalate to a more detailed Phase 2 review. Reuters noted the UK government's intervention echoes the CMA's 2023 initial blocking of Microsoft's ↗ 0.43% $69 billion acquisition of Activision Blizzard.bloomberg+2

What Comes Next

Warner Bros. Discovery did not immediately respond to a request for comment, and Paramount could not be reached for comment on Tuesday. The proposed merger, announced in February 2026, would unite two major Hollywood studios, streaming services HBO and Paramount+, and news networks CNN and CBS under the control of Paramount Skydance CEO David Ellison. If completed, it would create the largest media conglomerate in U.S. history.facebook+2