EU Clears Paramount's $110B Warner Bros. Discovery Deal With Conditions

The European Commission conditionally approved Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery on July 22, 2026. Paramount must exit its Universal International Pictures joint venture in Europe within 13 months and cannot co-distribute films with Universal for ten years. The EU viewed the joint venture as creating an unfair distribution advantage. The deal still faces a US state lawsuit and possible UK intervention.