金吾财讯 | 派拉蒙拟以1100亿美元收购华纳兄弟影业的重磅文娱并购案进入监管关键阶段，美欧监管机构即将落地审查结果，加州司法部门正评估是否发起法律诉讼阻击交易落地。行业多方担忧，两大头部影视巨头合并将压缩行业竞争空间，引发薪资下行、消费选择减少、内容产能收缩等连锁问题。
本次交易审查节奏紧凑，欧洲反垄断机构预计7月初出具审批结论，美国司法部也将同步推进决策，审批落地后交易或将快速完成，留给加州司法部门的干预窗口大幅压缩。加州监管方明确，单纯的行为约束补救措施力度有限，不排除要求资产剥离等结构性整改方案，以此规避行业垄断风险。
派拉蒙方面否认垄断隐患，承诺合并后每年维持30部院线电影产出，持续加码内容制作带动流媒体用户增长。与此同时，美国多州正与加州商讨联合追责方案，加州本年度大幅扩充反垄断团队人员与预算，全力保障审查与诉讼资源，为跨州联合反垄断执法提供支撑。
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