A PYMNTS Company

China Grants Antitrust Approval for Paramount-Warner Bros. Discovery Deal

By  |  June 18, 2026
Paramount+, streaming, advertising

Chinese competition regulators have approved Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, marking another significant regulatory milestone for one of the largest media mergers in recent years.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The clearance from China’s antitrust authorities removes a key hurdle for the approximately $110 billion transaction, which would combine major entertainment assets across film, television, and streaming under a single corporate structure. Both companies distribute movies in China, making approval from Beijing an important requirement before the deal can move closer to completion.

    According to a report published by The Manila Times, citing Reuters, the Chinese decision follows similar approvals from regulators in the United States, Australia, Germany, France and Saudi Arabia. The European Union and some other jurisdictions have yet to complete their reviews.

    The transaction has attracted substantial antitrust scrutiny worldwide because it would unite some of the entertainment industry’s most recognizable brands and content libraries. Paramount’s assets include CBS, MTV, Nickelodeon and Paramount Pictures, while Warner Bros. Discovery owns HBO, CNN, Warner Bros. Pictures and DC Studios. The combined company would have a significant presence across theatrical releases, television networks and streaming services.

    Read more: Antitrust Questions Persist Following Paramount-Warner Merger Clearance

    In the United States, the Department of Justice recently concluded that the merger was unlikely to substantially lessen competition in streaming, television broadcasting or film distribution, allowing the deal to proceed without requiring divestitures. However, labor organizations, some lawmakers and state officials have continued to express concerns about media consolidation, potential job reductions and the concentration of content ownership within a smaller number of companies.

    China’s approval is particularly notable because foreign media companies face regulatory oversight when conducting business in the country’s film market. Although Hollywood studios have seen their influence in China decline as domestic productions gain market share, the country remains an important market for major international releases.

    The merger remains subject to review by additional regulators, including authorities in the European Union, before the companies can finalize the transaction.

    Source: Manila Times