China approves $110 billion Paramount Skydance Warner Bros. Discovery merger
Big news for movie fans: China has officially approved the $110 billion merger between Paramount Skydance and Warner Bros. Discovery.
This follows green lights from the US Department of Justice, Australia, Germany, France, and Saudi Arabia.
Since both studios have a presence in China's film scene, getting the OK here was a major step forward.
Mixed China results for Hollywood films
Hollywood movies have had mixed luck in China lately. Hits like Warner Bros.' Meg 2: The Trench made $53.3 million on opening weekend, but others struggled or didn't release at all, like Paramount's Top Gun: Maverick due to political tensions.
Even so, China remains a huge market that Hollywood can't ignore.
EU approval still pending for merger
One last hurdle: The European Union hasn't decided yet on the merger.
Its approval is needed to wrap things up, so everyone's watching to see what happens next.