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

Chinese regulators have cleared the $110 billion merger between Paramount Skydance 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. News of the approval was first reported by Semafor. (Editing ‌by ‌Franklin Paul, Sanjeev Miglani ​and Christian Schmollinger)