LONDON — U.K. Secretary of State for Culture, Media and Sport Lisa Nandy announced on June 30, 2026, that she was 'minded to' issue a public-interest intervention notice regarding Paramount's proposed $110 billion acquisition of Warner Bros. Discovery. Nandy stated she would request an investigation by the U.K. Competition and Markets Authority.

The potential intervention centers on public interest concerns regarding media plurality and competition within the United Kingdom. Paramount Skydance agreed to acquire Warner Bros. Discovery for $31 per share in cash. The acquisition is valued at approximately $110 billion.

The U.K. Competition and Markets Authority initiated its merger probe on June 9. The authority has listed August 7 as the date for its Phase 1 judgment on the merger. Paramount owns Channel 5, a free-to-air broadcaster in Britain, while Warner Bros. Discovery owns CNN International.

The deal includes a ticking fee of 25 cents per share, which Paramount would pay to Warner Bros. Discovery shareholders for each quarter after September 30 that the transaction has not finalized. Reuters reported that this fee would amount to approximately $650 million every three months. The proposed acquisition would bring together brands such as Nickelodeon and Cartoon Network.

The U.S. Department of Justice has approved the deal. California, New York, and other U.S. states are planning a lawsuit to attempt to halt the transaction. The European Commission delayed its decision deadline on the merger remedies from July 7 to July 22.

Paramount shares recently traded at $10.39, with the company having a market value of approximately $11.6 billion. Warner Bros. Discovery shares recently traded at $26.48, and the company has a market value of approximately $66 billion.