EU Clears Paramount-Warner Merger With Universal Exit Commitments

The European Commission approved the $111 billion Paramount Skydance–Warner Bros. Discovery merger, subject to commitments requiring Paramount to unwind its European film distribution partnership with Universal within 13 months to address competition concerns; the deal also faces U.S. state lawsuits and a Writers Guild challenge, while the U.K. is reviewing potential intervention and other regulators have already approved it.