Paramount Seeks EU Green Light for $110 Billion Warner Deal (1)

Paramount Skydance Corp. has formally asked the European Union to approve its $110 billion takeover of Warner Bros. Discovery Inc.

The European Commission, the 27-nation EU’s merger watchdog, set an initial deadline of July 7 to rule on the deal to unite two Hollywood studios behind legendary films from Casablanca and Harry Potter to Mission: Impossible; two major news networks in CNN and CBS; the streaming powerhouse HBO and dozens of cable networks.

Paramount said that “today’s milestone is consistent with our expected timeline” and that the firm looks forward to “continuing to work constructively with the European Commission ...