The deadline for comments will be April 27. The CMA is asking that responses be sent to paramount.warnerbrosdiscovery@cma.gov.uk.<\/p>\n\n\n\n
The invitation to comment comes after Paramount CEO David Ellison previously met with U.K. Secretary of Culture, Media and Sport Lisa Nandy<\/a> to discuss issues in the film and TV industry and his bid for Warner Bros. Discovery in January. <\/p>\n\n\n\n In its notice, the CMA said that it has “received the necessary information from the parties to commence pre-notification,” but has not yet launched a formal investigation into the transaction. <\/p>\n\n\n\n “Effective competition helps ensure UK customers can enjoy quality content at a competitive price. The film and TV industries contribute billions to our economy, so it’s important we assess whether deals between studios may harm competition,” a CMA spokesperson told TheWrap. “Today’s invitation to comment is an initial step as we review Paramount’s purchase of Warner Bros Discovery. We expect to launch our Phase 1 investigation in the coming weeks.”<\/p>\n\n\n Under a Phase 1 review, the CMA would have 40 working days to decide whether the merger needs a more in-depth review. If it finds concerns with the merger, it will give the merging businesses five days to propose remedies to address its concerns. <\/p>\n\n\n\n The CMA would then have up to 5 more working days to consider the remedies. If none are offered or it does not accept them, the merger would be referred to a Phase 2 review. If if decides to accept remedies provisionally, it would publicly consult on them and consider any responses, with a deadline of 50 working days to make a decision. <\/p>\n\n\n\n If the review moves to Phase 2, an independent “inquiry group,” which consists of 3 to 5 people with a range of business, finance, economic and legal experience, would lead the investigation and makes the final decision within 24 weeks. In special circumstances, a Phase 2 investigation can be extended by up to eight additional weeks.<\/p>\n\n\n\n The inquiry group would then either clear the merger, consider remedies such as asset divestitures or a legal commitment from the merging businesses to behave in a certain way, or block the merger. <\/p>\n\n\n The CMA’s move comes after the Hart-Scott-Rodino waiting period in the U.S. Department of Justice\u2019s review expired on Feb. 19. Despite the expiration, the DOJ can still investigate or challenge a Paramount-WBD deal.<\/p>\n\n\n\n![\"David](\"https:\/\/i0.wp.com\/www.thewrap.com\/wp-content\/uploads\/2023\/10\/david-zaslV.jpg?fit=300%2C169&quality=89&ssl=1\")
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\n\t\t\tDavid Zaslav's Golden Parachute Tax Reimbursement Warrants 'Severe Concern,' Glass Lewis Says<\/a>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n![\"jj-abrams-david-fincher-denis-villeneuve\"](\"https:\/\/i0.wp.com\/www.thewrap.com\/wp-content\/uploads\/2026\/04\/jj-abrams-david-fincher-denis-villeneuve.jpg?fit=300%2C169&quality=89&ssl=1\")
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\n\t\t\tJ.J. Abrams, David Fincher, Denis Villeneuve and Over 1,000 More Sign Open Letter Against Paramount-Warner Bros. Merger<\/a>\n\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n
![\"Paramount](\"https:\/\/i0.wp.com\/www.thewrap.com\/wp-content\/uploads\/2026\/02\/Paramount-WBD-regulatory.jpg?fit=300%2C169&quality=89&ssl=1\")
\t\t\t\t\t<\/a>\n\t\t![\"WrapPRO](\"\/wp-content\/plugins\/newsletter-builder\/images\/wrap-pro-logo.png\"){kind=logo}
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