Justice Department approves Paramount-Warner Bros. merger
The antitrust division said the merger is unlikely to harm competition and could increase alternatives for streaming viewers, after an eight-month review.
- On Friday, The Justice Department signed off on Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery, clearing the way for a merger that will reshape the American entertainment industry, Politico first reported.
- European Union officials are reviewing the merger due to financial backing from three Middle Eastern sovereign wealth funds: Saudi Arabia's Public Investment Fund, Abu Dhabi's IMAD Holding, and the Qatar Investment Authority.
- Warner owns a 116-year-old film studio and HBO Max streaming service, while Paramount operates a 114-year-old studio and CBS broadcast network. Paramount Skydance CEO David Ellison aims to honor both legacies while building a next-generation media company.
- Despite The Justice Department's clearance, California Attorney General Rob Bonta and the United Kingdom's antitrust authority are investigating the transaction. More than 1,000 entertainment professionals warned in April that the deal would further consolidate the media landscape.
- Internal criticism at CBS News has mounted in recent weeks under Ellison's leadership after his appointed editor in chief, Bari Weiss, fired multiple '60 Minutes' correspondents at the end of the most recent season.
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Ministry of Justice approves acquisition without any restrictions and does not see any impact on competition. Competition tests in US states and outside the US are still ongoing.
The US Department of Justice has approved Paramount's acquisition of the media giant Warner Bros.
The U.S. Department of Justice is waving through Paramount's billion-dollar takeover of Warner Bros. without any restrictions, but possible federal lawsuits could still slow down the mega deal.
Block the Merger Vows to Stop Paramount-Warner Bros. Deal Despite DOJ Green Light
Hours after President Donald Trump’s Justice Department cleared the Paramount-Warner Bros. deal, the Block the Merger coalition vowed it would “never” become a “done deal.” “The Ellisons’ bid to take control of Warner Bros. Discovery is a direct threat to the film and entertainment industry, independent media and democracy in this country and beyond,” the coalition noted in a statement released to media Friday. “If allowed to go forward, this co…
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