The US Justice Department has approved Paramount Skydance’s acquisition of Warner Bros. Discovery, a deal reported to be worth about $110 billion to $111 billion. Multiple outlets report that the Antitrust Division clears the merger without requiring divestitures or other remedies, concluding the transaction does not threaten competition. The approval is expected to be announced, with one or more outlets describing the DOJ’s decision as closing its antitrust probe.
The merger would combine Paramount with assets including CNN, Warner Bros. Pictures and HBO Max, and would be positioned to integrate with Paramount+. Paramount chief executive David Ellison reportedly met with antitrust officials multiple times to argue the deal would strengthen competition against larger streaming and technology rivals.
However, federal approval does not end the legal process. Several US states led by California are preparing an antitrust lawsuit, and California Attorney General Rob Bonta’s office says the transaction remains under active investigation. The European Commission is also reviewing the merger.
The bid emerged from a heated contest involving Netflix earlier, and the final outcome involved Paramount’s increased offer and financial backing. The deal also faces criticism from parts of the entertainment industry, including claims it could lead to job losses and reduced creative opportunities.
