Paramount, Warner Deal Poised to Face UK Antitrust Probe (1)

Paramount Skydance Corp.’s $111 billion deal to buy Warner Bros. Discovery Inc. is set to face a possible UK antitrust probe in coming weeks after the watchdog sought views on the merger’s impact on British consumers.

The Competition and Markets Authority said the invitation to comment is an initial step as it reviews the deal before a formal investigation. “We expect to launch our phase 1 investigation in the coming weeks,” a CMA spokesperson said in an emailed statement.

Paramount outbid Netflix Inc. in February to win the deal, which will create a sprawling media empire. The combined company ...