The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of WarnerMedia by Discovery Inc., both of the US.
WarnerMedia is a global media and entertainment company, active in the development, production, licensing and distribution of feature films, television, gaming and other content.
Discovery is a global media company that licences and provides audio-visual content to viewers through multiple distribution platforms, including linear platforms such as pay television, free-to-air (‘FTA’), and direct-to-consumers subscription services.
The Commission concluded that the proposed acquisition would raise no competition concerns given that, following the transaction, the combined entity would continue to face sufficient competition from other players. In addition, the Commission found no competition concerns stemming from the vertical and conglomerate links between the activities of the companies, since the latter would not have the ability nor the incentive to engage in foreclosure practices.