The Justice Department of Friday approved the proposed Paramount Skydance merger with Warner Bros. Discovery, which will pave the way to the creation of an entertainment monolith. Photo by Allison Dinner/EPA
June 12 (UPI) -- The U.S. Department of Justice on Friday said the proposed merger between Paramount Skydance and Warner Bros. Discovery does not harm competition or consumers in the United States.
The Justice Department said that it finds the proposed merger is unlikely to harm competition among similar companies or the ability of American consumers to access video-based media, it said in a press release.
Paramount in January hiked up its offer well beyond what Netflix had offered for the entertainment conglomerate, circumventing the streaming leader from acquiring it, and triggering antitrust investigations in a number of nations both operate in.
At least ten state attorneys general said last week they would sue the federal government to stop the proposed merger, which would create a monolith company comprised of several of the most significant companies in television, film and entertainment.
