DOJ clears Paramount’s $110 billion purchase of Warner Bros. Discovery without conditions
TL;DR
DOJ cleared Paramount’s $110B purchase of Warner Bros. Discovery with no conditions. States led by California are still preparing to sue to block it.
The US Justice Department has cleared Paramount Skydance’s $110 billion purchase of Warner Bros. Discovery without requiring any changes to the deal. The agency said the merger “is not likely to harm competition or American consumers” after an eight-month antitrust review. No divestitures, behavioural remedies, or concessions were imposed.
The deal combines two of Hollywood’s five largest studios. It joins Warner Bros. and Paramount Pictures, CNN and CBS, HBO and Paramount+, and dozens of cable networks. Paramount beat Netflix in a bidding war to acquire the company. CEO David Ellison, son of Oracle co-founder Larry Ellison, met with top antitrust officials last month to argue the merger would help Hollywood compete against Netflix, Amazon Prime Video, and YouTube.
The DOJ’s approval was expected....
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