

Deadline has reported that Paramount Skydance is attempting to quell suspicions about its proposed merger with Warner Bros. Discovery. On Wednesday, it was confirmed that they submitted a concession bid to the European Commission.
Paramount believes that promises made in the bid will mitigate any concerns the European Commission may have and will be one of the last approvals they need. Additionally, the deadline has been extended from July 7th to July 22Nd.
Reports last week indicated that Paramount believed withdrawing from the Universal International Pictures pact would be substantial enough to sway the European Commission. Theatre operators were concerned that the merger would result in excessive centralized power.
Paramount did not address what concessions were made. They did state they were “confident that this remedy directly and comprehensively addresses any concerns expressed in the European Commission’s preliminary assessment and support the path for timely clearance,” per Deadline.
UK Culture Minister Louis Nandy has recently said she was “minded to intervene”. Nandy has said she seeks to protect the stake of UK audiences and she has written to the companies involved on their behalf. In a separate investigation, the UK’s Competition and Markets Authority will evaluate the deal.
While the US Department of Justice has approved the merger, Paramount still faces other hurdles within the US. A coalition of states led by the California Attorney General’s office is considering an antitrust lawsuit in opposition to the merger. Additionally, Paramount recently filed a motion to dismiss a lawsuit brought by five consumers. According to mxdwn, the lawsuit alleges that the merger will harm the diversity of political thought within news programming. In their motion to dismiss, Paramount argued that the lawsuit lacked sufficient evidence that the merger would harm competition. The FCC has not yet approved the merger. Trump-appointed chairman Brendan Carr currently leads the FCC.
