With the decision dated 20.08.2026 and numbered 26-30/866-361, the Competition Board (Board) granted conditional authorization to the transaction involving the acquisition of sole control over Warner Bros. Discovery Inc. (WARNER BROS) by Paramount Skydance Corporation (PARAMOUNT), subject to the commitments submitted by PARAMOUNT.

The file identified certain instances of horizontal and vertical overlap between the activities of PARAMOUNT and WARNER BROS. The file assessed the commitments offered by PARAMOUNT, intended to eliminate the anti-competitive concerns that might arise in case the transaction was completed in the markets for “distribution of films for theatrical release,” “wholesale provision of TV channels,” and “subscription video on-demand services (SVOD)” .

First, in order to address the competition concern regarding the market share obtained by PARAMOUNT in the market for the “distribution of films for theatrical release” through UIP TÜRKİYE, which it jointly controls with UNIVERSAL, PARAMOUNT has committed to terminate its shareholding in UIP TÜRKİYE. Beyond the commitment above, PARAMOUNT will not establish a joint venture or any similar commercial structure for the joint distribution of films in Türkiye jointly with UNIVERSAL, the distribution of PARAMOUNT and WARNER BROS films will not be combined with third parties that also distribute UNIVERSAL or WALT DISNEY films, and furthermore, the activities of WARNER BROS and UNIVERSAL will be carried out independently of one another within UIP TÜRKİYE.

In addition to the above commitments which were also submitted to the European Commission by PARAMOUNT, there are two more commitments specific to the Turkish market. 

Accordingly, first, PARAMOUNT has committed to make theatrically released films available for licensing to third-party platforms in Türkiye on market terms after the expiry of the three-year exclusivity period following the first availability (first run/first-windowing) of the relevant films on the SVOD platform(s) owned by PARAMOUNT and WARNER BROS.  This commitment will remain in effect for a period of five years from the closing date. 

Second, with regard to the wholesale provision of TV channels, PARAMOUNT committed to extend the term of the existing agreements concluded by PARAMOUNT and WARNER BROS with DIGITURK, TV+, Tivibu, D-Smart, and other linear TV providers until 31.12.2029 under the same terms and conditions, upon the request of the relevant linear TV provider. Furthermore, it has also been guaranteed that, for as long as PARAMOUNT and WARNER BROS continue to make their existing TV channels available on the SVOD platform(s) under their control in Türkiye, they will make such channels available for licensing to third parties in Türkiye on market terms.

The Competition Board concluded that the commitments submitted by PARAMOUNT were sufficient to address the identified competition concerns, proportionate to those concerns, and capable of being implemented within a short period of time, and therefore granted conditional authorization to the transaction. 

Respectfully announced to the public.