The US Justice Department has closed its antitrust probe and signed off on Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery. DOJ antitrust enforcers stated that the proposed merger does not threaten competition in the United States nor harm consumers.
The decision paves the way for the union of two rival studio giants, combining Paramount, owner of CBS, with the larger Warner Bros. Discovery, which includes HBO and CNN. The takeover is expected to reshape the media landscape, though it has fueled fears of increased control over the US entertainment industry and media censorship.
This approval provides Paramount with a crucial advantage as it seeks to fend off potential state-level challenges to the deal. Analysts had expected the Justice Department not to challenge the merger due to Paramount's political connections. The acquisition still requires approval from European regulators.