Warner/Discovery Merger Approved, As Foxtel Locks In Local Deal
The A$60 billion merger between Warner and Discovery has finally been approved, after getting clearance from US anti-competition bodies.
This comes just a day after Foxtel in Australia announced it had renewed a multi-year content deal that will see thousands of hours of content appear exclusively on various Foxtel streaming entities, as well as on the pay TV platform.
The deal marks the biggest media merger of the last 20 years, and will act as a bellwether for the current Amazon acquisition of MGM Studios, which is a far smaller deal at ‘just’ A$11.8 billion, but under more fiercer scrutiny due to Amazon’s current position.
“Discovery and Warner is consolidation, but it’s not a monopoly,” a former House Judiciary aide told The Post.
“Amazon is a clear monopoly, with dominance in the digital space.”