Paramount Skydance Offers EU Remedies to Secure Approval for $111 Billion Warner Bros. Discovery Takeover

Paramount Skydance said Wednesday it was hoping the EU would approve its $111 billion takeover of Warner Bros. Discovery, after it submitted a proposal to address related competition concerns.

"We can confirm that today we have submitted a remedy to the European Commission," the US media conglomerate told AFP, without specifying what measures it had suggested.

Paramount Skydance said it was "confident that this remedy directly and comprehensively addresses any concerns" raised by Brussels and supports "the path for timely clearance."

The commission, the European Union's antitrust watchdog, has given itself until July 22 to decide on the acquisition, which has already been approved by the US Justice Department. (Agencies)

Also Read: Taylor Swift–Travis Kelce's Wedding Itinerary Reveals New Celebration Details