What specific EEA distribution partnerships must Paramount divest?

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Paramount Must Divest Its Stake in United International Pictures in the EEA

Paramount must terminate its ownership interest in United International Pictures (UIP), a joint venture with Universal, within the European Economic Area (EEA) as a condition for the approval of the US$110 billion takeover of Warner Bros. Discovery. This divestment is a key measure to address competition concerns raised by European regulators.
Divestment of United International Pictures Stake

European Union regulators have mandated that Paramount cease its participation in the United International Pictures (UIP) joint venture. This partnership, which involves Universal, is considered a significant distribution entity within the EEA. The requirement stems from concerns that the combined entity's market power could unduly influence film distribution across the 27 EU member states.
Prohibition on Future Joint Distribution Agreements

Beyond terminating its current stake, Paramount is also restricted from entering into any new joint distribution agreements with Universal in the EEA for a period of 10 years. This prohibition applies to both direct and indirect arrangements, aiming to prevent the creation of new competitive disadvantages for other distributors in the region. The EU stated that these commitments ensure the films of the merged entity will not be distributed jointly with those of Universal or Disney.
Rationale for Regulatory Approval

The European Commission's decision to grant conditional approval was based on the belief that these divestment and non-cooperation commitments fully address the identified competition issues. Regulators noted that while film distribution required these concessions, the film production landscape in Europe remains sufficiently competitive, with numerous major and smaller players, including Disney, Amazon MGM, and various European studios, ensuring a healthy market. An independent trustee will oversee the implementation of these conditions under the commission's supervision.

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What specific EEA distribution partnerships must Paramount divest?

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