The first phase of the CMA’s investigation into the $110 billion deal could last two months.
British antitrust authorities have opened a formal investigation into the pending takeover of Warner Bros. Discovery (WBD) by Paramount. The Competition and Markets Authority (CMA) announced on Tuesday that it would launch a merger investigation into the $110 billion acquisition.
The first phase of the investigation will begin on June 10, with the watchdog examining the potential impact of the deal on competition. The CMA has until August 7 to decide whether or not it wants to move forward with a second (and deeper) phase, which would cast doubt on Paramount’s hope of closing the deal in the third quarter of this year. The company beat Netflix in a bidding war for WBD over the winter.
Earlier this month, it was reported that several US states, including California and New York, were preparing legal action to try to block the merger. California Attorney General Rob Bonta also vowed to investigate the deal.
