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Türkiye conditionally approves Paramount’s acquisition of Warner Bros.
The Competition Authority conditionally approved Paramount’s acquisition of Warner Bros. subject to commitments addressing competition concerns in Türkiye.
The Competition Authority conditionally approved Paramount’s acquisition of Warner Bros. The decision was made subject to commitments aimed at addressing the competition concerns identified in connection with the transaction.
The Authority assessed that there were various horizontal and vertical overlaps between Paramount’s and Warner Bros.’ activities. The concerns focused particularly on the distribution of films to be shown in cinemas, the wholesale supply of television channels, and the markets for subscription-based video-on-demand services.
Commitment to separate UIP Türkiye
Paramount committed to ending its shareholding in UIP Türkiye, which it controls together with Universal. The company also committed not to establish a joint venture or similar commercial structure with Universal for joint film distribution in Türkiye.
The distribution of Paramount and Warner Bros. films will not be combined with third parties that also distribute Universal or Walt Disney films. The activities of Warner Bros. and Universal within UIP Türkiye will also be conducted independently of one another.
Two Türkiye-specific measures
After the three-year exclusivity period expires following the initial availability of films shown in cinemas on subscription-based video-on-demand platforms controlled by Paramount and Warner Bros., Paramount will make these films available for licensing to third-party platforms in Türkiye on market terms.
This commitment will apply for five years from the closing date of the transaction.
Regarding the wholesale supply of television channels, the existing agreements between Paramount and Warner Bros. and Digiturk, TV+, Tivibu, D-Smart and other linear television providers will be extended until December 31, 2029, on the same terms and conditions at the request of the relevant provider.
During the period in which Paramount and Warner Bros. continue to offer their existing television channels in Türkiye on subscription-based video-on-demand platforms under their control, they will keep these channels available for licensing to third parties on market terms.
The Authority concluded that the commitments were sufficient to address the identified competition concerns, proportionate to those concerns and capable of being implemented within a short period.
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