UK government mulls intervention on Paramount buying Warner Bros

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The UK government is considering to intervene in regard to Paramount Skydance Corp's plan to buy Warner Bros Discovery Inc, Secretary of State for Culture, Media & Sport Lisa Nandy said Tuesday.

Nandy said she informed Warner Bros that she is "minded to intervene," citing public interest concerns such as a need for a plurality of views in news media.

Paramount owns CBS and UK's Channel 5, while Warner Bros owns CNN.

The planned USD110 billion acquisition is set to be approved by the EU, the Financial Times had reported last week Wednesday. The European Commission has until next week Tuesday to announce its decision to either approve the deal or open an in-depth investigation.

Warner Bros shares were 1.1% lower in pre-market trading at USD26.84 each on Tuesday morning in New York, while Paramount shares were 0.3% lower at USD9.80.

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