Paramount has signed a $110 billion ($31-per-share) deal to acquire Warner Bros, after Netflix declined to raise its prior offer.
FCC Chair Brendan Carr indicated the deal is likely to get swift, routine approval from the commission, suggesting it qualifies as bona fide debt under FCC rules, according to the Financial Times.
The big picture: Carr downplayed competition and market concentration concerns, stating the implications of Paramount’s purchase differ substantially from Warner Bros’ previous agreement with Netflix.
State of play: Lawmakers in Washington have expressed worries that the merger could reduce consumer choices and raise prices.
- Cinema operators fear that combining major studios may lead to job losses and fewer theatrical film releases.
Go deeper: Carr described competition in the broadcast sector as “very robust” and noted regulatory interest in encouraging more industry investment and scale.
