Secretary of State case Proposed acquisition of Warner Bros. Discovery by Paramount: decision of no intervention on public interest grounds: Paramount Skydance / Warner Bros. Discovery
The United Kingdom Secretary of State for Culture, Media and Sport cleared, subject to remedies, Paramount Skydance's acquisition of Warner Bros. Discovery on 6 August 2026 (case Proposed acquisition of Warner Bros. Discovery by Paramount: decision of no intervention on public interest grounds).[1]
The Culture Secretary, who had said she was minded to intervene on media plurality grounds, decided not to issue a public interest intervention notice after Paramount gave legally binding undertakings on the editorial independence of its British news and children's channels.
Proposed acquisition of Warner Bros. Discovery by Paramount: decision of no intervention on public interest grounds
Decision
Cleared with remedies
Decided
Legal basis
Enterprise Act 2002 public interest regime (newspapers and broadcasting); previously Fair Trading Act 1973 ss.57-62
Remedies
behavioural — Channel 5 News to be kept editorially independent of CBS News and CNN International, and Channel 5 to continue as a public service broadcaster.
behavioural — CNN International to remain available in the United Kingdom, and Nickelodeon and Cartoon Network to be kept editorially distinct, for five years from completion.
Paramount Skydance agreed to buy Warner Bros. Discovery for $31.00 a share in cash, which the companies put at $81 billion in equity value and $110 billion in enterprise value. It would combine the Paramount and Warner Bros. film studios, CBS and CNN, and HBO Max with Paramount+. Warner Bros. Discovery shareholders approved it on 23 April 2026 and the European Commission cleared it in July 2026.