{"id":3361,"date":"2026-07-01T11:36:49","date_gmt":"2026-07-01T11:36:49","guid":{"rendered":"https:\/\/relocationobserver.com\/?p=3361"},"modified":"2026-07-01T11:36:49","modified_gmt":"2026-07-01T11:36:49","slug":"paramount-set-to-exit-universal-joint-venture-as-condition-for-eu-approval-of-mega-merger-with-warner-bros-discovery","status":"publish","type":"post","link":"https:\/\/relocationobserver.com\/?p=3361","title":{"rendered":"Paramount Set to Exit Universal Joint Venture as Condition for EU Approval of Mega-Merger With Warner Bros. Discovery"},"content":{"rendered":"
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\n\tParamount will exit its United International Pictures distribution joint venture with Universal\u00a0as a condition for EU approval of its $111 billion takeover of Warner Bros. Discovery.<\/p>\n

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\n\tThe move is in response to a request for Paramount to exit the venture made by the European Commission\u2019s anti-trust watchdog last week. The European Commission said on Wednesday that a regulatory filing in which Paramount Skydance affirms its commitment to pull out of UIP has been submitted, adding that the \u201cnew provisional deadline\u201d for the Commission to reach a decision on approval of the mega-merger has now been extended from July 7 to July 22.<\/p>\n

\n\tUIP, which was formed in 1981 and is based in London, has since been scaled back and is currently active as a distributor in several European territories including Denmark, Greece, Croatia, Hungary, Norway, Poland and Sweden.<\/p>\n

\n\tParamount did not immediately respond to a request for comment.<\/p>\n

\n\tThe megadeal, inked in February after a protracted battle with Netflix, would bring bring together Paramount assets including CBS, CBS News, Paramount Pictures and Paramount+ with WBD\u2019s HBO and HBO Max, Warner Bros. Pictures, CNN, TNT, TBS, HGTV and more.<\/p>\n

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\n\tThe EU Commission\u2019s review is among the last major regulatory obstacles that Ellison must face to create a global behemoth. The deal is also undergoing regulatory review in the U.K., where the British Government is likely to intervene, according to the U.K.\u2019s Secretary of State for Culture, Media and Sport Lisa Nandy. On Tuesday, she cited concerns over there being \u201ca sufficient plurality\u201d of people who control U.K. media. In the U.K., the merger will bring U.K. broadcaster 5 and TNT Sports under the same ownership besides streamers Paramount+ and recently launched HBO Max.<\/p>\n

\n\tSaudi Arabia\u2019s Public Investment Fund (PIF), Abu Dhabi\u2019s L\u2019imad Holding Company and the Qatar Investment Authority (QIA) are jointly putting up a total of $24 billion investment into the Hollywood mega merger. But that does not seem to be an issue with either the EU or the U.K. <\/p>\n

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Paramount is set to exit its UIP joint venture with Universal as a condition to obtain EU approval of its megamerger with Warner Bros. Discovery.<\/p>\n","protected":false},"author":1,"featured_media":1348,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[2768,433,2769],"class_list":["post-3361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biz","tag-european-union","tag-paramount-skydance","tag-warner-bros-discovery-2"],"yoast_head":"\nParamount Set to Exit Universal Joint Venture as Condition for EU Approval of Mega-Merger With Warner Bros. 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