July 1, 2026
Paramount is ending its joint venture with Universal Pictures to distribute theatrical titles in Europe in an effort to appease European Union officials scrutinizing possible antitrust issues surrounding the company’s planned $111 billion merger with Warner Bros. Discovery.
Founded on Nov. 1, 1981, United International Pictures has handled all theatrical distribution of Paramount and Universal titles outside the United States. Universal is expected to retain control of the JV, which reportedly has downsized over the years to handle smaller markets.
As Paramount made the decision to leave the JV, the EU extended its deadline to rule on the WBD transaction from July 7 to July 22.
The move follows U.K. Culture Secretary Lisa Nandy’s June 30 announcement that her office might investigate the merger and its possible negative impact on the U.K. entertainment and news distribution industries.
In California, AG Rob Bonta has not publicly announced whether he plans to file a lawsuit against the deal.
“The merger of Warner Bros and Paramount is not a done deal and remains under investigation by my office,” Bonta said in a statement earlier this month.