Chinese regulators have cleared the $110 billion merger between Paramount Skydance and Warner Bros Discovery, according to a source familiar with the decision. This antitrust ruling comes on the heels of similar approvals from the U.S. Department of Justice, and a number of other countries, including Australia, Germany, France, and Saudi Arabia.

Global Impact

The European Union has yet to weigh in on the combination. China, where both Paramount and Warner Bros Discovery release films, also needed to sign off on the deal. China has been a diminishing source of revenue for Hollywood, as its domestic movie industry matures.

Some films, like Warner Bros’s 2023 film “Meg 2: The Trench,” grossed $53.3 million in China during its opening weekend. However, Paramount’s 2022 blockbuster “Top Gun: Maverick,” was never released – a casualty of heightened tensions between the U.S. and China.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.