politics
UK government may ‘intervene’ in Paramount’s $110 billion takeover of Warner Bros
Key takeaways
- In a statement, Nandy said she wrote letters to both companies stating she is minded to intervene on public interest grounds, specifically the need for a sufficient plurality of views in news media in U.K.
- The DOJ determined the deal is not likely to result in harm to competition or American consumers, instead arguing its analysis of the transaction revealed it has benefits for American consumers and workers.
- But Nandy said Tuesday that British law allows her to take action against the deal.
Why this matters: political developments that affect policy direction and public trust.
Discovery.
In a statement, Nandy said she wrote letters to both companies stating she is minded to intervene on public interest grounds, specifically the need for a sufficient plurality of views in news media in U.K. markets and a sufficient plurality of persons with control of the media enterprise.
Paramount s acquisition of Warner Bros., which would result in the likes of CBS, CNN, HBO, TNT and TBS falling under the same umbrella, received approval from the Antitrust Division of the Justice Department (DOJ) earlier this month.
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