India, Aug. 6 -- Paramount Skydance Corp. (PSKY) on Thursday won UK competition approval for its acquisition of Warner Bros. Discovery, Inc. (WBD), clearing a key hurdle for the proposed media merger.
The UK Competition and Markets Authority formally cleared the deal. With the CMA's decision, authorities in 66 jurisdictions have now either approved the transaction or declined to challenge it on competition and foreign investment grounds.
Also, Paramount has entered into a deed of covenant with the UK Department for Digital, Culture, Media and Sport. Paramount Skydance said the combination would create a scaled media and entertainment company.
Notably, these clearances recognize that the combination of Paramount and WBD will enhance consu...