European film and audiovisual groups have urged EU regulators to subject Paramount Skydance’s $111bn takeover of Warner Bros Discovery to a thorough competition investigation, warning the deal could damage cultural diversity, weaken independent production and entrench the dominance of US entertainment giants.
The WBD takeover is being reviewed by regulators across the globe, including the US Department of Justice and watchdogs in the UK and the EU.
The letter, sent to members of the European Commission, the European parliament and several national delegations in the EU Council and seen by the FT, is one of the first clear signs of international opposition to the Hollywood merger.
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