China and the United States successively cleared! Paramount Sky (PSKY.US) submits anti-monopoly remedies to the European Union for the $110 billion acquisition case.

On Wednesday, a regulatory document showed that Paramount Sky (PSKY.US) has submitted remedies to address the competition concerns of the European Union regarding its $110 billion acquisition of Warner Brothers Discovery (WBD.US). Last week, sources told the media that this move is likely to gain approval from the European Commission for the deal. Paramount stated that it is "confident that the remedies proposed can directly and comprehensively address any concerns expressed in the European Commission's preliminary assessment and support timely approval." The European Commission, as the competition enforcement agency of the European Union, did not provide details of the remedies, in line with its standard policy. A source familiar with the matter told the media last week that Paramount will propose to abandon its film distribution joint venture with Universal Pictures to alleviate concerns raised by European film operators about anti-competitive behavior. The European Commission has extended the deadline for a decision from July 7 to July 22 to allow time to evaluate the proposed remedies. Approval in both China and the United States One of the largest mergers in the history of the film and media industry, Paramount Sky's $110 billion acquisition of Warner Brothers Discovery, is currently facing a complex negotiation in global antitrust approvals. The deal has recently made breakthrough progress in core markets of Europe and the United States. The US Department of Justice has officially approved the deal. In Europe, Paramount Sky formally submitted antitrust remedies to the European Commission on Wednesday. Paramount proposed to abandon its film distribution joint venture with Universal Pictures to address concerns from European cinema operators. Sources indicate that this move is likely to secure the EU's approval, with the deadline extended to July 22. Approval in the Chinese market is also a crucial step in finalizing the deal. Reports indicate that on June 30, the State Administration for Market Regulation issued a list of deals approved unconditionally from June 15 to June 21, including Paramount Sky's acquisition of Warner Brothers Discovery's shares. However, local litigation and specific industry reviews are emerging as new obstacles. Sources suggest that while the US Department of Justice has approved the deal, Paramount may still face hurdles as California, New York, and other states are preparing to file lawsuits to block the deal. On Tuesday, the UK stated that it may intervene in the deal due to its potential impact on news, children's television, and streaming services.