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Paramount Secures UK Approval with Editorial Safeguards

Financial Times Companies •
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Paramount Skydance boss David Ellison has agreed commitments on editorial independence to prevent the UK government blocking its $110bn takeover of Warner Bros Discovery.

After Culture Secretary Lisa Nandy said she could intervene in June, Ellison sent a letter to the UK government promising a legally binding safeguard package. The commitments include upholding Channel 5’s public service remit, investing £80mn over the next three years, keeping linear channels separate from HBO Max and Paramount+, and preserving the editorial identity of each TV service, from Nickelodeon to Cartoon Network. Channel 5 News will remain independent from CNN and CBS News, and CNN International will continue as a distinct news service in the UK. Paramount will supply annual compliance reports to government officials, and the Competition and Markets Authority said it would not take further action, effectively approving the deal.

This milestone would create one of the world’s largest media and entertainment groups, bringing together CNN, HBO, Warner Bros, CBS and Channel 5. The deal also faces scrutiny from U.S. antitrust regulators, but the UK regulators have signalled no further action. Paramount’s commitments aim to reassure the public that its diverse content will remain separate from the parent company’s global strategy.

Under the merger agreement Paramount will pay $650mn each quarter after September‑end until the transaction closes.