Justice Department approves Paramount bid to acquire Warner Bros.

Warner Bros $111bn deal with Paramount controversially approved

Paramount Skydance’s $US111b acquisition of Warner Bros Discovery has been approved by the US Department of Justice, the BBC reports. The DOJ said in a statement that its “rigorous” investigation of the proposed deal found it was “not likely to result in harm to competition or American consumers,” but would “increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers.” However, it’s not a d…

DOJ clears Paramount Skydance’s $111 billion Warner Bros. Discovery takeover

The merger brings together a wide portfolio of entertainment assets under a single corporate structure, including Paramount, Warner Bros. Pictures, CNN, and the HBO Max streaming platform.

David Ellison to Join Trump at UFC Bout

New York Times: “One V.I.P. guest at the fight will be celebrating, too: David Ellison, the technology heir and Paramount Skydance chief executive who on Friday received a gift of sorts from the Trump administration.” “After months of meticulous courtship of the president and his senior aides, Paramount got word on Friday that the Justice Department would not challenge its $111 billion merger with Warner Bros. Discovery, eliminating one of the l…

Justice Department approves Paramount bid to acquire Warner Bros.

The merger has faced pushback from some of Hollywood’s biggest stars, who voiced their opposition in an open letter in late April.