Paramount Skydance Corp.'s stalled $110 billion takeover of Warner Bros. Discovery Inc. received regulatory relief in Britain on Thursday. The Competition and Markets Authority declined to refer the merger for a deeper Phase 2 investigation, stating the deal raises no competition concerns in the UK.

Culture Secretary Lisa Nandy also opted against intervening after receiving "assurances and legally-binding commitments" from Paramount. The dual clearance provides a rare win for a transaction that remains mired in uncertainty.

The proposed combination faces mounting opposition in the US, where lawmakers and regulators have raised antitrust and national security concerns. Paramount's shares rose modestly on the UK news, though the deal's ultimate fate hinges on American approvals.

The CMA's decision followed a Phase 1 review that found insufficient evidence of harm to British consumers or media plurality. Nandy's office emphasized that Paramount's commitments address public interest considerations around news provision and creative output.