Chinese regulators clear Paramount Skydance-Warner Bros Discovery merger, source says

Chinese regulators have cleared the $110 billion merger between Paramount and Warner Bros Discovery, following approvals from the US and several other countries.

​Chinese regulators have cleared the $110 billion merger between Paramount ‌Skydance and Warner Bros Discovery, according to a source familiar with the decision. The antitrust ruling comes on ‌the heels of similar approvals from the U.S. ‌Department of Justice, and a number of other countries, including Australia, Germany, France and Saudi Arabia. China, where both ⁠Paramount ​and Warner ⁠Bros Discovery release films, also needed to sign off ⁠on the deal. The European Union has yet to ​weigh in on the combination.

China has been ⁠a diminishing source of revenue for Hollywood, as its ⁠domestic ​movie industry matures. Some films, like Warner Bros's 2023 film "Meg 2: The Trench," grossed $53.3 million ⁠in China during its opening weekend. However, Paramount's 2022 ⁠blockbuster "Top ⁠Gun: Maverick," was never released - a casualty of heightened tensions between the U.S. and ‌China. (Editing ‌by Franklin Paul and ​Sanjeev Miglani)