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UK government says it may challenge $110 billion Paramount-Warner Bros. merger

By Ivana Kottasová, CNN

London (CNN) — The British government indicated on Tuesday that it may challenge Paramount Skydance’s planned takeover of Warner Bros. Discovery due to concerns about its impact on media diversity in the country.

The British culture minister Lisa Nandy said in a statement sent to CNN that she was “minded to intervene” in Paramount’s quest to acquire CNN, HBO, the Warner Bros. movie studio and other Warner Bros. Discovery assets.

“Following engagement with the parties and independent research, my Department has today written to the current and proposed owners of Warner Bros Discovery on my behalf to inform them that I am minded to intervene”, Nandy said in a statement.

Nandy added that she was considering intervening on public interest grounds, including ensuring there is a “sufficient plurality of views in news media” and a “sufficient plurality of persons with control of the media enterprises.”

In the UK, the term “minded to” is used by government officials to announce they will make a move before taking the legal steps to do so.

Paramount has cleared regulatory hurdles in many other countries, including in the US, where the Justice Department signed off on the deal earlier in June without requiring any concessions.

Paramount has said that it expects the deal to take effect in the third quarter of this year, meaning by the end of September. Corporate meetings about how to integrate Paramount and WBD have been taking place for months already.

Responding to Tuesday’s news, a Paramount spokesperson told CNN: “We are grateful for the continued constructive engagement with all interested government bodies and relevant authorities, including in the UK. We are confident that our proposed transaction does not pose any media plurality issues in the UK and remain confident in our stated transaction timeline.”

CNN has reached out to Warner Bros. Discovery for comment.

This is a developing story and will be updated.

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