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Get filing alertsParamount Skydance secures EU and South Korea approvals for Warner Bros. Discovery merger
Filed July 22, 2026 · Period ending July 22, 2026 · ~1 min read
Key Changes
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high
European Commission cleared the Warner Bros. Discovery acquisition under EU Merger Regulation after Phase 1 review, finding no competition concerns requiring extended investigation.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
high
Merger remains subject to regulatory clearances in other unspecified jurisdictions; company continues engaging with antitrust enforcers worldwide.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
medium
South Korea's Fair Trade Commission unconditionally approved the merger following Phase 1 review on July 10, 2026.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
medium
EU unconditionally approved the merger under Foreign Subsidies Regulation on July 14, 2026, finding no distortive effects from non-EU government subsidies.
Item 7.01 — Regulation FD Disclosure verify on EDGAR →
Summary
Paramount Skydance disclosed three regulatory approvals for its pending acquisition of Warner Bros. Discovery, clearing significant hurdles in the EU and South Korea.
The European Commission approved the transaction under both the EU Merger Regulation (July 22) and the Foreign Subsidies Regulation (July 14) following Phase 1 reviews, meaning regulators found no competition or subsidy concerns requiring deeper investigation or remedies. South Korea's Fair Trade Commission similarly granted unconditional clearance on July 10.
The merger cannot close until PSKY obtains additional regulatory approvals in other jurisdictions, which the filing does not identify. The company states it continues to engage with antitrust authorities worldwide. For shareholders, these approvals reduce execution risk by removing two major regulatory gates, but the transaction timeline remains contingent on clearances the filing does not detail. The unconditional nature of all three approvals—no divestitures or behavioral remedies imposed—suggests regulators see limited overlap or competitive harm in the combined entity's markets.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
PSKY announces EU and South Korea regulatory approvals for its pending merger with Warner Bros. Discovery.
Added in current filing · verify on EDGAR →
On July 14, 2026, the European Commission unconditionally approved the Merger under the EU Foreign Subsidies Regulation following a Phase 1 review.
The EU has also cleared the merger under its Foreign Subsidies Regulation, which screens transactions for distortive effects from non-EU government subsidies. The unconditional approval means no remedies or conditions were imposed.
Added in current filing · verify on EDGAR →
On July 10, 2026, the Fair Trade Commission of South Korea unconditionally approved the Merger following a Phase 1 review.
South Korea's competition authority has unconditionally cleared the merger after a Phase 1 review, removing another regulatory hurdle. The transaction still requires clearances in other jurisdictions before it can close.
Added in current filing · verify on EDGAR →
The completion of the Merger remains subject to certain other conditions, including regulatory clearance in other relevant jurisdictions.
While PSKY has secured approvals in the EU and South Korea, the merger cannot close until it obtains additional regulatory clearances in unspecified jurisdictions. The company states it continues to engage with antitrust enforcers and regulators worldwide.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify