India, June 30 -- The UK government said it is likely to intervene in Paramount Skydance's proposed $110 billion acquisition of Warner Bros. Discovery, raising a potential obstacle to completing the merger.
UK Culture Secretary Lisa Nandy said she is "minded to intervene" over concerns that the deal could reduce media diversity and the plurality of news ownership. The companies have been given one week to respond before a final decision is made.
If the government proceeds, UK media regulator Ofcom would conduct a public interest review alongside an existing Competition and Markets Authority investigation, potentially delaying the transaction.
Paramount said it remains confident the merger does not pose media plurality concerns in the UK ...