The U.S. Department of Justice approved Paramount Skydance’s $111 billion acquisition of Warner Bros. Discovery. The Antitrust Division concluded an eight-month investigation into the media mega-merger. Regulators determined the deal is unlikely to harm competition. The federal clearance requires no divestitures or behavioral remedies.
The combination unites two major Hollywood studios and their extensive content libraries. The merged entity will control broadcast networks CBS and CNN. It integrates streaming services Paramount+ and HBO Max alongside film studios Paramount Pictures and Warner Bros.
The deal is not yet finalized. A group of state attorneys general led by California continues to investigate the merger’s potential anticompetitive effects.