The $110 billion merger between Paramount Skydance and Warner Bros Discovery, approved by the US Department of Justice in June 2026, threatens the European film industry on multiple fronts, with the combined entity controlling the entire chain from production to distribution. Warner Bros Discovery is active as a producer of local-language content in Europe, but the expected $6 billion in budget cuts make investments in national stories vulnerable. Stricter bargaining positions vis-a-vis cinema operators, weakened copyrights, and streaming quotas that primarily benefit the platforms themselves amplify the threat, while MEPs Emma Rafowicz and Joanna Scheuring-Wielgus formally call on the European Commission to investigate the cultural and market consequences.