EU examines Paramount $110 billion bid for Warner Bros Discovery
Paramount wants to buy Warner Bros. Discovery for a massive $110 billion, but the European Union is taking a close look first.
It's making sure this merger won't block filmmakers from reaching EU audiences on big screens or streaming apps, and is also thinking about how it could affect creativity and cultural diversity in Europe.
Paramount met EU, decision due July7
Paramount's team just met with EU officials in Brussels to talk through concerns.
They have until early July to suggest fixes if there are competition issues, and the EU will decide by July 7 whether to give the green light or dig deeper with a longer investigation.
If it goes through, Paramount CEO David Ellison would lead one of the biggest media groups out there, after beating Netflix in a bidding war for this deal.