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This past weekend, as the U.S. celebrated 250 years free from British rule, Paramount Skydance executives found themselves pondering a question that might have amused George III: Could the U.K. still determine the fate of an American empire? After all, while Paramount’s $110 billion acquisition of Warner Bros. Discovery is nearing the conclusion of a sprawling global regulatory review, British culture secretary Lisa Nandy’s declaration that she was “minded to intervene” has introduced an unexpected wrinkle, sending WarnerMount’s architects scrambling to figure out whether Britain can actually hold up the transaction.
