The Trump administration has given the green light for Paramount Skydance to take over Warner Bros. Discovery in a mega-merger that will reshape Hollywood.
Friday afternoon’s sign-off by the Department of Justice, while expected, was a key step in Paramount’s quest to acquire CNN, HBO, the Warner Bros. movie studio and other Warner Bros. Discovery assets.
The DOJ said in a statement that “the transaction is not likely to result in harm to competition or American consumers, including with respect to: (1) streaming video on demand (“SVOD”); (2) linear television; and (3) studio development, production, or distribution of films for theatrical release.”
Paramount said it was grateful to the Justice Department for the “thorough review,” and added, “We remain focused on completing the transaction as soon as possible and delivering its benefits to consumers, creators, and the entertainment industry as a whole.”
Paramount and Warner Bros. Discovery (also known as WBD) still face a potential lawsuit by a coalition of state attorneys general who have said the Trump administration is failing to enforce antitrust law.
