UK competition watchdog to probe Warner Bros takeover after Hollywood stars oppose £8bn
The competition watchdog is set to launch an investiga tion into the takeover of Warner Bros.
The Hollywood studio behind films from Casablanca to Sinners (starring Oscar-winner Michael B. Jordan, pictured) backed an £80billion offer from rival Paramount in February following a bidding war with Netflix.
But the Competition and Markets Authority (CMA) is preparing to probe the deal. ‘It’s important we assess whether deals between studios may harm competi tion,’ a CMA spokesman said.
‘We expect to launch our Phase 1 investigation in the coming weeks.’ Inter ested parties have until April 27 to comment.
Separately, more than 1,000 writers, actors and directors – including Emma Thompson, Jane Fonda and Noah Wyle – signed an open letter yesterday opposing the deal, saying it would harm Hollywood’s already distressed enter tainment industry
Probe: Warner Bros, which is behind the hit film Sinners (starring Michael B Jordan, pictured) backed an £80bn offer from rival Paramount in February
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