Paramount Skydance Corporation (NASDAQ: PSKY) received approval from Australian regulators for its planned merger with Warner Bros. Discovery, according to a company statement.

The Australian Competition and Consumer Commission published its decision on June 9, 2026, allowing the merger to proceed subject to a 14-day waiting period that expires at 10:00 a.m. Eastern Time on June 23, 2026.

The ACCC concluded that "the Acquisition is unlikely to have the effect of substantially lessening competition in relation to the wholesale supply of films for theatrical release in Australia." The regulator found that while the merger would eliminate competition between Paramount and Warner Brothers, "the merged entity would continue to be constrained by other film studios post-Acquisition."

The commission also determined that the companies "are not particularly close competitors" and that "the merged entity is unlikely to have a sufficiently strong position in the supply of wholesale audiovisual content to enable it to successfully foreclose rivals' access to audiovisual content."

The New Zealand Commerce Commission informed PSKY on June 5, 2026, that it does not intend to consider the merger further under the country's voluntary clearance regime.

PSKY also received approvals from competition authorities in Saudi Arabia, Ukraine, Serbia and North Macedonia, and from foreign direct investment authorities in Germany, Slovenia, Belgium, Czechia, New Zealand, Italy, France and Romania.

Under the merger agreement signed February 27, 2026, a wholly owned subsidiary of PSKY will merge with Warner Bros. Discovery, with the latter surviving as a wholly owned subsidiary of PSKY.