Britain clears $110 billion Paramount-Warner Bros. merger

By Anna Cooban, CNN

London (CNN) — The British government has cleared Paramount Skydance’s $110 billion takeover of Warner Bros. Discovery, saying it had received assurances from the company over media diversity.

On Thursday, the UK’s anti-trust regulator said that it had decided not to further investigate the deal, weeks after British culture minister Lisa Nandy said she was considering intervening.

The UK’s culture department said Paramount had provided several assurances, including that it would maintain “distinct editorial identities of key services and the editorial independence of news.” The company has offered to make those assurances legally binding, the department said in a statement.

A deeper investigation would have presented a significant hurdle for Paramount, casting the whole timeline of the merger into doubt. The company has said that it expects the merger to take effect by the end of September.

This is a developing story.

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