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Paramount Skydance is looking for support in Europe
“Paramount Skydance management has held talks with French President Emmanuel Macron in recent days as part of a European diplomatic offensive aimed at gaining support for a hostile takeover bid for Warner Bros. Discovery,” Bloomberg reports.
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What's more, Paramount CEO David Ellison met with British Culture Minister Lisa Nandy on Thursday. These efforts come as Paramount's competition with rival Netflix heats up.
Let us remind you that Warner Bros. rejected the offer from Paramount, run by David Ellison, son of Trump ally Larry Ellison, preferring Netflix's offer.
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Bloomberg points out that Brussels is closely monitoring the developments. The size of the companies and the level of their revenues mean that the transaction will easily meet the threshold for inspection by the European Commission's antitrust authority.
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The agency, citing its informants, states that technical meetings took place this week between Paramount and the European Commission. He notes that France, for example, has long been sensitive to any deal affecting its domestic film and television industry.
