Logo text
The Justice Department has cleared Paramount‘s $111 billion megadeal for Warner Bros., a key approval that removes a major regulatory roadblock to completing the merger that will reshape Hollywood.
The decision clears the way for Paramount to become the largest theatrical distributor in the country and own a top five streamer by subscriber count unless the merger is stopped by another entity.
“We are grateful for the Department of Justice’s thorough review of this transaction, as well as the work of the other agencies that have completed their reviews and provided clearance to date,” a Paramount spokesperson said in a statement. “This deal is pro-competitive, resulting in a stronger company better positioned to compete against dominant technology platforms in an industry increasingly defined by intense competition for audiences, talent, technology, and investment.”
The green light doesn’t require any divestitures, behavioral remedies or concessions, reported Politico.
