Secretary of State for Culture, Media and Sport (): On 27 February 2026 Paramount
announced it would acquire Warner Bros Discovery for $110 billion
(£83 billion).
Under the Enterprise Act 2002 (the Act), I can intervene if I
have reasonable grounds to suspect that arrangements are in
contemplation which, if carried into effect, will result in the
creation of a relevant merger situation and I believe that one or
more public interest considerations under the Act may be
relevant.
Following engagement with the parties and independent research,
my Department has today written to the current and proposed
owners of Warner Bros Discovery on my behalf to inform them that
I am minded to intervene on the following public interest
grounds:
-
The need for, to the extent that it is reasonable and
practicable, a sufficient plurality of views in news media in
each market for news media in the United Kingdom or a part of
the United Kingdom.
-
The need, in relation to every different audience in the
United Kingdom, or in a particular area or locality of the
United Kingdom, for there to be a sufficient plurality of
persons with control of the media enterprises, or the
enterprises providing on-demand programme services or both,
serving that audience.
I am conscious that the proposed acquisition is global in nature.
In reaching this decision, my focus has been, and will remain, on
the UK public interest and the range of services available to UK
audiences, including Channel 5, TNT Sports, Cartoon Network,
Nickelodeon, and CNN International, as well as Paramount+ and HBO
Max.
The public interest consideration regarding plurality of persons
with control of media enterprises, or enterprises providing
on-demand programme services, is not currently specified in
section 58 at the Act. However, under section 42 of the Act, I
may specify a new public interest consideration for Ofcom to
consider in relation to the merger, if I consider it ought to be
specified in section 58. As the legislation was drafted at a time
where viewing was largely via broadcast linear channels, it does
not cover the effect of a merger on streaming or video-on-demand
services. I believe this ought to be able to be considered in
relation to this and all future media mergers given the role
on-demand viewing now plays in the market. If I decide to
intervene in this merger on the basis, I will bring forward
secondary legislation to finalise this public interest
consideration as the Enterprise Act requires me to do.
The letters to the parties, and other relevant updates, will be
published on GOV.UK.
It is important to note that I have not taken a final decision on
intervention at this stage. The minded to' letter invites further
representations in writing from the parties and gives them until
6 July to respond.
If I decide to issue an Intervention Notice, the next stage would
be for Ofcom to assess and report to me on the public interest
considerations, and for the Competition and Markets Authority
(CMA) to assess and report to me on whether a relevant merger
situation has been created, and any impact this may have on
competition.
Following these reports, I would need to decide whether to refer
the matter for a more detailed investigation by the CMA under
section 45 of the Act. I am mindful of the need to reach a final
decision in a timely manner, and I will endeavour to do so as
appropriate.
I will update Parliament on my final decision at the earliest
opportunity.
