May 4, 2026
Cleared in Washington, blocked in London: Paramount-Warner Bros. and the long arm of the CMA
The U.K.'s upcoming Competition and Markets Authority evaluation of the proposed Paramount-Warner Bros. transaction illustrates a growing reality in global merger review: Approval from U.S. regulators is no longer sufficient to ensure a deal's completion.
The upcoming Competition and Markets Authority (CMA) evaluation of the proposed Paramount-Warner Bros. transaction illustrates a growing reality in global merger review: approval from U.S. regulators is no longer sufficient to ensure a deal's completion. As the CMA undertakes its own assessment, U.K. clearance is now an imperative checkpoint for transactions negotiated and centered in the United States. That dynamic reflects not only the CMA's expanding jurisdictional rea...
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