The UK will look into the Paramount and Warner Bros. agreement

The proposed $110 billion acquisition of Warner Bros. by Paramount Skydance is anticipated to be the subject of an inquiry by the UK antitrust authority. A spokeswoman stated on Monday that there will be a discovery in the upcoming weeks.

“The film and television industries contribute billions to our economy, so it is important that we assess whether deals between studios could harm competition… We expect to launch our Phase 1 investigation in the coming weeks,” a spokesperson for the Competition and Markets Authority (CMA) said in a statement emailed to Reuters.

Before determining whether to formally begin an inquiry, the CMA had already asked for opinions on whether the arrangement complied with competition laws. This was a typical phase in its information-gathering procedure.

Stakeholders had until April 27 to provide feedback, according to the regulator.

Reuters’ request for comment was not immediately answered by Warner Bros. or Paramount.

Meanwhile, more than 1,000 screenwriters, actors, and directors published an open letter on Monday opposing the deal. Arguing that it would harm Hollywood’s already weakened entertainment industry.

Actors Ben Stiller, Mark Ruffalo, and Jane Fonda are among the signatories.

After a weeks-long bidding war with Netflix, Paramount and Warner Bros. revealed their agreement in February. Stakeholders had until April 27 to provide feedback, according to the regulator.

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