Paramount Skydance Corp has offered remedies to address EU competition concerns about its $110 billion acquisition of Warner Bros Discovery, a regulatory filing showed on Wednesday.
The U.S. Department of Justice has cleared the deal, but Paramount could face a hurdle as California, New York, and other U.S. states are preparing a lawsuit to block it.
European Commission Approval
The European Commission extended its deadline for its decision to July 22 from July 7 to give it time to assess the remedy.
A person with direct knowledge of the matter told Reuters that Paramount would propose ditching its film distribution joint venture with Universal Pictures to allay antitrust concerns voiced by European cinema operators.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
