British regulator may challenge Paramount takeover of Warner Bros. Discovery

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Set us as preferred Britain’s culture minister may challenge Paramount Skydance’s takeover of Warner Bros.Discovery — presenting a potential speed bump to David Ellison’s plan to wrap up his $111-billion deal by September.Earlier this month, Paramount secured the U.S.

Justice Department’s blessing to buy the Warner assets, which include CNN, HBO, Cartoon Network, Animal Planet and the Warner Bros.film and TV studios in Burbank.

Paramount also must win the approval of British and European regulators, who are known for drilling deeply into media matters because of their influence on society.Britain’s Competition and Markets Authority took a preliminary step this month by opening an investigation into Ellison’s proposed merger.On Tuesday, Lisa Nandy, Britain’s secretary of state for culture, media and sport, notified Parliament that she was inclined to intervene in the blockbuster deal.

Hollywood Inc.Ellison’s close ties to President Trump, and widespread concerns about the future of Hollywood, drive anxiety over the tech scion’s $111-billion deal for Warner Bros.

Discovery.In a written statement, Nandy cited her ability to weigh in on “public interest grounds,” due to concerns about maintaining a competitive media market in Britain.“The UK’s move to intervene in the Paramount–WBD deal confirms what we’ve been saying for months.The real regulatory risk was never in the US — it’s in Europe,” Forrester VP Research Director Mike Proulx said Tuesday in a statement.

While Nandy cautioned she has not made “a final decision on intervention at this stage,” she has invited Paramount and Warner Bros.to respond to her concerns by Monday.Paramount did not offer immediate comment.

The company owns CBS News, children’s channel Nickelodeon and Channel 5, one of the largest over-the-air televisi...