Paramount says Warner Bros Discovery deal has secured global regulatory approval

The company stated it had satisfied all regulatory conditions following an eight-month review process spanning 68 countries worldwide, including the European Union (EU), UK, Australia, Canada, Brazil, China, COMESA, the US Department of Justice and, most recently, Mexico. 

However, Paramount still faces two antitrust cases brought by 12 US states, including California, and the Writers Guild of America, as obstacles to closing the deal. 

In a statement, Paramount hit out at the delay to the closure of the deal by the US states, saying it would lead to increased costs that would have to be absorbed by the studio. 

Paramount said the action of the 12 states "inflicts harm without benefit to their own constituents. The unwarranted eight-plus month additional delay for a trial beyond the engagement of the last nine months will impose needless costs from penalty fees, litigation expenses, and business disruption. As a business with many stakeholders, including pension and state retirement funds, Paramount is required to consider how it can absorb the unnecessary additional financial costs while preserving the longer-term strength of the combined company." 

Last week, David Ellison, CEO of Paramount, threatened to begin relocating the company out of California unless a settlement was reached by 1 October 2026, 

Ellison said: "We are grateful that competition authorities in nearly 70 jurisdictions worldwide have independently and thoroughly reviewed this transaction and reached the same conclusion: it is pro-competitive, pro-consumer and pro-worker. 

"Despite this overwhelming global consensus, the litigation brought by the State of California and 11other State AGs remains the final obstacle to completing a combination that will create a stronger competitor with greater capacity to invest in premium content, support creative talent and workers, and deliver more high-quality entertainment to audiences." 

"While we remain confident that the law and the facts are on our side, we have offered commitments and concessions and remain open to working constructively with the State AGs to find a path forward in the interest of our employees and the creative community in California and across the world – just as we have with the regulators in 68 countries worldwide," said Ellison.   

To reflect the changing media market, the US Federal Communications Commission (FCC) recently voted to repeal its 39% national television multiple ownership rule and replace it with a case-by-case review. Discover more here.