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Update: Paramount, Warner Bros Discovery Merger Might Face Potential UK Intervention

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(Updates with quotes from Secretary Lisa Nandy and Paramount throughout the story.)

Paramount Skydance's (PSKY) proposed $110 billion takeover of Warner Bros. Discovery (WBD) might face regulatory intervention over media plurality concerns, British culture minister Lisa Nandy said Tuesday.

Nandy said her department has written to the current and proposed owners of Warner Bros. Discovery to inform them that she is "minded to intervene" on public interest grounds related to media plurality, and has invited further representations from the parties by July 6.

Nandy also said she would bring forward secondary legislation, if she intervenes on that basis, to allow streaming and video-on-demand services to be considered in this and future media mergers.

Paramount Skydance toldin a statement that it is confident that its proposed transaction does not pose any media plurality issues in the UK and also remains confident in its stated transaction timeline.

Warner Bros. Discovery did not immediately respond to a request for comment from.

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