STORY
The Government has confirmed that it will not intervene in Paramount Skydance’s proposed acquisition of Warner Bros Discovery after accepting legally binding commitments intended to protect media plurality and editorial independence in the UK. Culture Secretary Lisa Nandy said the assurances provided sufficient protection for the continued availability and separate identities of broadcasting, streaming and news services.
Paramount has undertaken to retain the distinct editorial identities of its television channels and streaming services. Nickelodeon and Cartoon Network will remain editorially separate and continue commissioning and acquiring original British children’s programmes. Channel 5 News will remain independent from CBS News and CNN International, while CNN International will continue to be available in the UK. Channel 5 will also retain its public service broadcasting role and maintain a UK focused commissioning strategy.
Most of the commitments will apply for five years after the acquisition is completed, although those concerning Channel 5 will remain in force until the end of its current broadcasting licence in December 2034. Paramount must provide annual statements showing its compliance and the Department for Digital, Culture, Media and Sport has said it will monitor implementation. The Competition and Markets Authority has separately cleared the transaction, while Nandy said there were no reasonable grounds at present for intervention under the foreign state influence regime.