The £82billion takeover of film and TV giant Warner Bros by rival Paramount has been backed by Britain’s competition regulator after the US firm agreed to preserve the editorial independence of its news shows, public service broadcasting and children’s content.

Culture Secretary Lisa Nandy decided not to intervene after Paramount agreed to several legally binding commitments.

The tie-up will create one of the world’s largest film and TV groups, that controls news networks such as CNN and CBS as well as TV network HBO and Channel 5 in the UK.

Also included are the film studios behind franchises such as Batman and Top Gun, starring Tom Cruise. 

Paramount boss David Ellison, son of tycoon and Donald Trump ally Larry Ellison, told the Government it would guarantee Channel 5 News’ editorial independence, and keep it separate from its other news operations.

Other guarantees include not reducing the number of people commissioning content in the UK, and for Channel 5 to continue backing UK-produced shows.

As a result, the Competition and Markets Authority cleared the deal after similar approval from EU regulators. 

But Ellison now has to get the deal over the line in the US, where several states oppose it.