Report
EUR 8614.00 For Business Accounts Only

Antitrust Risks for PSKY/WBD

As PSKY has won the battle for WBD, we end Act 1 (the proxy battle) and enter Act 2, in which antitrust authorities, and others, review the transaction. In this note, we update our thinking on the risks to the deal from a governmental, as opposed to a financial, perspective.
Underlyings
ViacomCBS Inc. Class B

ViacomCBS is a media and entertainment company. The company's TV Entertainment segment creates and acquires programming for distribution and viewing on several media platforms. The company's Cable Networks segment creates and acquires programming for distribution and viewing on several media platforms. The company's Filmed Entertainment segment develops, produces, finances, acquires and distributes films, television programming and other entertainment content in various markets and media worldwide. The company's Publishing segment publishes and distributes Simon & Schuster consumer books domestically and internationally and includes imprints such as Simon & Schuster?, Scribner?, Atria Books? and Gallery Books?.

WARNER BROS. DISCOVERY INC.

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Analysts
Blair Levin

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