A PYMNTS Company

EU: Paramount’s concessions accepted

By  |  July 26, 2016

The European Union’s antitrust regulator on July 26th said it accepted the concessions offered by Paramount Pictures to satisfy Brussels’ concerns about contracts signed with Sky UK Ltd. to license films.

The European Commission took aim at Hollywood last July, filing charges against six major U.S. film studios and pay-TV broadcaster Sky UK over alleged illegal licensing agreements. The contracts see these studios license their output of films over a certain period for pay-TV to Sky UK.

To dismiss those concerns, Paramount Pictures offered in April that when licensing a film to a pay-TV broadcaster in Europe, to not impose contractual obligations which prevent that broadcaster from making the film available to consumers in another country.

The EC can fine Paramount up to 10% of the its global revenue if the company violates the commitments.

The EC said that it continues to investigate Walt Disney Co., NBC Universal, Sony Pictures Entertainment Inc., Twentieth Century Fox and Warner Bros. Entertainment.

Full Content: The Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.