UK government 'minded to intervene' in Paramount WBD tie-up

30th Jun 2026 16:12

(Sharecast News) - The British government has flagged it may intervene in Paramount Skydance's $110bn takeover of Warner Bros Discovery, it was confirmed on Tuesday.

In a written ministerial statement, culture secretary Lisa Nandy said she had contacted both parties to inform them she was "minded to intervene" in the blockbuster deal.

She continued: "I am conscious that the proposed acquisition is global in nature. In reaching this decision, my focus has been, and will remain, on the UK public interest and the range of services available to UK audiences."

Paramount and WBD now have until 6 July to respond, after which Nandy will decide whether to ask both Ofcom, the media regulator, and the Competition and Markets Authority to investigate the tie-up. If she does, a public interest intervention notice will be published, giving both watchdogs up to 40 days to review the proposed deal.

Paramount owns Channel 5 while WBD has CNN International. Other relevant services available to UK audiences include TNT Sports Cartoon Network, Nickelodeon, Paramount+ and HBO Max, the government noted.

The US and China have both already given the tie-up approval, however, as have France and Germany, and Paramount said it remained confident the deal would clear UK scrutiny as well.

"We are confident that our proposed transaction does not pose any media plurality issues in the UK and remain confident in our stated transaction timeline," a spokesperson said. "We are grateful for the continued constructive engagement with all interested government bodies and relevant authorities, including in the UK."

Paramount secured WBD after rival suitor Netflix walked away in February after a protracted battle for the studio giant. The deal will give Paramount control of a number of film franchises, including Harry Potter and Batman, as well as streaming and television assets.

Any delays could prove costly, however, as Paramount has agreed to pay a so-called ticking fee as part of the deal. Included to reassure investors that a tie-up would clear regulatory hurdles, Paramount will pay shareholders 25 cents a share for every quarter the deal does not close beyond 30 September.

Paramount was itself only formed last year when David Ellison - son of Oracle founder Larry Ellison - merged Paramount Global, National Amusements and Skydance Media.