Competition Authority Approves Paramount and Warner Bros Merger
Turkey's Competition Authority approved the giant merger following commitments submitted by the companies.
The Competition Authority announced that it has granted conditional clearance to the merger of Paramount and Warner Bros, within the framework of structural and behavioral commitments submitted.
Details of the Board's Decision
In the announcement made on the website of the Competition Authority, the details of the decision regarding the Paramount and Warner Bros merger were shared with the public.
It was emphasized that various horizontal and vertical overlaps were identified between the activities of the parties during the examinations.
Regulations in the Film Distribution Market
In order to alleviate competition concerns in the feature film distribution market, Paramount committed to terminate its shareholding in UIP Turkey.
Additionally, the distribution of Paramount and Warner Bros films will not be combined with third parties distributing Universal or Walt Disney films.
Commitments Specific to the Turkish Market
It was announced that two new commitments specific to the Turkish market were presented in addition to those submitted to the European Commission.
It was decided that feature films would be licensed to third parties after the exclusivity period on platforms expires.
Television Supply Contracts
The durations of existing contracts regarding the wholesale supply of television channels can be extended upon the request of the suppliers.
It was reported that existing television channels will continue to be licensed to third parties under market conditions.