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Industry

EU conditionally approves Paramount takeover of Warner Bros Discovery; U.S. lawsuit remains final hurdle

The European Union has conditionally approved Paramount’s takeover of Warner Bros Discovery, requiring Paramount to unwind its joint distribution arrangement with Universal in Europe. The European Commission said the deal would have led to Warner films being distributed through Universal International Pictures, potentially worsening rental and distribution terms for cinemas and harming consumers. Paramount must exit the venture within 13 months and refrain from joint distribution with Universal for 10 years. A U.S. lawsuit and a UK review remain.

Industry

U.S. biotech Axiom chooses Hong Kong over Nasdaq for first listing

U.S. biotech Axiom Biosciences has chosen Hong Kong, not a U.S. exchange, for its first stock market listing. The San Diego-based company is pursuing a Hong Kong listing in 2027 and is considering a secondary U.S. listing in 2029. Axiom expects Hong Kong to provide access to specialist biotech investors and expand cooperation with Asian clinical trial and commercialization partners amid shifting global biotech financing conditions.

Telecommunications & Media

Disney Plus considers introducing free streaming tier

Disney Plus is considering making some streaming content available for free. TechCrunch reported on July 10 that Disney discussed the possibility of offering a free tier during an internal town hall meeting. Adam Smith, Disney’s chief product and technology officer, mentioned the plan, but the company has not decided which films or series would be free or when it would launch. The move is seen as a response to competition from free services and shifting viewing trends.