The $110 billion union of the parent companies of CBS Sports and TNT Sports drew much closer to reality Friday, as the U.S. Department of Justice gave its blessing to Paramount’s planned takeover of Warner Bros. Discovery.
Three and a half months after the deal first came together in the wake of Netflix’s exit, the DOJ’s Antitrust Division gave its approval to the highly controversial pact.
“The division has completed its analysis of the proposed merger of Paramount and Warner Bros. and determined based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers,” the DOJ said in a statement.
The assent is a major step forward in the transaction and brings it much nearer to closing by the end of September—as has been Paramount’s intent—and perhaps within about a month.
Should that happen, bringing together TNT Sports and CBS Sports will create a sports media colossus with live rights in nearly every major sport and U.S.-based pro league, with a notable exception of the NBA.
