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The Independent UK

National

Elaine Kurtenbach

China's Tencent quits Paramount's bid for Warner Bros to avert national security questions

Tencent Paramount Warner Bros SEC China National Security Warner Bros Discovery Donald Trump Tencent Holdings CFIUS

China-Paramount-Warner Bros - (Copyright 2020 The Associated Press. All rights reserved.)

Chinese gaming and social media giant Tencent Holdings has withdrawn from Paramount Skydance Corp.‘s bid to buy Warner Bros Discovery, according to a revised filing of its takeover bid by Paramount with the U.S. Securities and Exchange Commission.

The filing seen Wednesday shows the Chinese company dropped its $1 billion financing commitment for the takeover bid.

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