Paramount's $81 billion bid to acquire Warner Bros. Discovery has received approval from the European Union. The European Commission, the EU's executive arm, granted conditional approval, contingent upon Paramount's full adherence to the concessions offered.

To address regulatory concerns, Paramount committed to several measures. These include divesting its stake in United International Pictures within the European Economic Area within 13 months of the deal's completion. Furthermore, Paramount will refrain from entering into any agreements with NBC Universal for joint film distribution in the European Economic Area for a period of 10 years.

The company also made additional commitments regarding theatrical distribution practices within the region. These concessions were crucial in alleviating the EU's antitrust concerns, paving the way for the significant media acquisition to proceed.