Paramount-Skydance Merger Cleared by Australian and New Zealand Regulators

The proposed $111 billion merger between Paramount and Skydance has reached a significant milestone, securing regulatory clearance in Australia and New Zealand. The Australian Competition and Consumer Commission (ACCC) concluded that the consolidation would not substantially diminish market competition, noting that the combined entity would still face sufficient pressure from other major film studios. Similarly, the New Zealand Commerce Commission has indicated it will not pursue further investigation into the deal, effectively clearing the path for the acquisition in those regions.

These approvals represent a major step forward for David Ellison’s vision, as the company continues to secure necessary international clearances. Beyond the Oceania region, Paramount has successfully navigated regulatory hurdles in several other jurisdictions, including Saudi Arabia, Ukraine, and various European nations. These wins demonstrate a growing global consensus that the merger does not pose an existential threat to market competition in the film and audiovisual content sectors.

Despite this momentum, the deal still faces critical scrutiny in the United Kingdom. The Competition and Markets Authority (CMA) has initiated a formal probe into the transaction, with a deadline of August 7 to determine whether a more intensive, phase-two investigation is required. While the international approvals provide a strong foundation for the merger, the outcome in the U.K. remains a pivotal factor in the finalization of this massive industry consolidation. The successful navigation of these global regulatory landscapes is essential for the long-term viability of the combined Paramount-Skydance entity.