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CMA Clears $110B Paramount-Skydance Warner Deal, Trial Set 2027

8/7/2026

Summary

CMA Approves

CMA approved Paramount Skydance’s $110-$111 billion takeover of Warner Bros. Discovery.
Lisa Nandy declined to intervene after Paramount pledged editorial independence and linear channels separate from streaming.
The firm will face competition from Universal, Disney, Sony, Netflix, Apple, Amazon and ITVX.
A trial for March 2-19 2027 follows a July 13 2026 suit by Attorney General Rob Bonta and requires Paramount to pay $7 million daily after Oct. 1 2026 and a $7 billion termination fee if the deal collapses.

Summary

Zaslav Praises Workforce

CEO David Zaslav praised the “inspiring” work ethic of Warner Bros. Discovery’s roughly 40,000-person global workforce and a “culture of inspiration” during European office visits, despite merger uncertainty.
Some staff privately hope the antitrust case will delay or block the merger, fearing duplicated-role job losses.
Zaslav could receive a $550 million golden parachute if the deal closes, while Warner Bros. Discovery sued Amazon for allegedly poaching HBO marketing executive Pia Barlow.

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CMA Approves

CMA approved Paramount Skydance’s $110-$111 billion takeover of Warner Bros. Discovery.
Lisa Nandy declined to intervene after Paramount pledged editorial independence and linear channels separate from streaming.
The firm will face competition from Universal, Disney, Sony, Netflix, Apple, Amazon and ITVX.
A trial for March 2-19 2027 follows a July 13 2026 suit by Attorney General Rob Bonta and requires Paramount to pay $7 million daily after Oct. 1 2026 and a $7 billion termination fee if the deal collapses.

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