Why the UK will be central to Paramount completing its takeover of Warner Bros. by September after a surprise intervention from minister Lisa Nandy.

Paramount will exit its United International Pictures distribution joint venture with Universal as a condition for EU approval of its $111 billion takeover of Warner Bros. Discovery. The move is in response to a request for Paramount to exit the venture made by the European Commission's anti-trust watchdog last week.

Per Deadline, Nandy met with Ellison in January, but six months later, says she “minded to intervene” on the “unprecedented” merger in a letter to Paramount. That intervention would take the form of investigations by media regulator Ofcom and antitrust watchdog the Competition and Markets Authority.

Paramount has submitted concessions to secure regulatory approval of its $110 billion merger with Warner Bros. Discovery in Europe. In an update on its website, the European Commission extended the deadline of its Phase 1 investigation from July 7 to July 22.

Variety reported that CNN legal journalist Paula Reid is leaving out of concern over Paramount CEO David Ellison taking over the network after a merger.

Paramount's WBD merger faces a key EU hurdle. Here's what regulators want changed and what it means for the deal's closing timeline.

The DOJ approval is an important milestone for the roughly $110 billion deal, though it could still face legal challenges from state attorneys general.

Mark Thompson, CNN's editor-in-chief, reportedly told Paramount officials he would not share oversight of CNN with another executive, according to The New York Times.

At Deadline's Regal panel, executives preached patience on consolidation while crediting a Gen Z-native wave for the best summer since 2019