Warner Bros.
Discovery (NASDAQ:WBD) shares moved higher on Wednesday after a report indicated that European Union regulators are preparing to approve Paramount’s proposed acquisition of the media and entertainment company
The stock rose 1.25% as investors reacted positively to signs that the transaction may be moving closer to securing a key regulatory clearance. EU Approval Reportedly Near According to a report from the Financial Times, the European Commission is expected to give the deal its approval, citing two individuals familiar with the discussions. The report said the regulator is prepared to clear the transaction provided that Paramount agrees to a number of commitments designed to address competition concerns.
While approval is reportedly within reach, negotiations over the final conditions remain ongoing. Remedies Still Under Discussion The Financial Times reported that representatives from Paramount and the European Commission continued discussions following a meeting held on Tuesday. The precise remedies that could accompany the approval have not yet been finalized.