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Paramount Skydance Corp may be preparing to sell off some of its children’s TV networks in order to secure European Union approval of their $110 billion Warner Bros. Discovery acquisition.
According to Bloomberg (via Yahoo), Paramount hopes to avoid any asset sales but is open to sacrificing specific kids channels if European regulators flag antitrust concerns.
Regulators are said to be concerned and examining the overlap between two of the most prominent children’s TV channels – Paramount’s Nickelodeon and Warner Bros. Discovery’s Cartoon Network.
European officials are also said to be scrutinising how the combined entity might impact the cinema exhibition sector, with cinema operators having been recently questioned on the matter.
If Paramount is going to concede things to appease the EU, those remedies must be submitted by the beginning of July. If the initial antitrust concerns aren’t satisfied, then another probe would take place and delay a final decision by at least three months.
The UK’s Competition and Markets Authority is also doing its own initial investigation after local film-industry groups and labor unions have pushed they do so.
In the U.S., federal antitrust regulators look likely to approve the takeover even as state-level opposition is seeking to block it on antitrust grounds.
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