UK Culture Secretary Lisa Nandy is minded to intervene in the proposed $110 billion acquisition of Warner Bros. Discovery by Paramount Skydance Corp. She cited concerns regarding media plurality and competition as grounds for public interest.
The move may trigger deeper investigations by media regulator Ofcom and the Competition and Markets Authority (CMA). The CMA has already initiated a preliminary review of the transaction.
The potential probe focuses on the deal's impact on UK assets including Channel 5 and CNN. It also covers multiple streaming services.
The companies have until July 6 to respond to the government's notice.