The Antitrust Division of the U.S. Department of Justice issued a statement in connection with the closing of the Division’s investigation into the proposed acquisition of Warner Bros. Discovery (WBD) by Paramount Skydance (PSKY), giving approval to the eal “The evidence reviewed and carefully analyzed by the Division indicates that, post-merger, competition in SVOD is not likely to be harmed,” the statement reads. “To the contrary, the combined firm is likely to increase competition by offering consumers a more robust competitive alternative to the larger SVOD offerings… The Division also investigated whether alternative streaming video platforms and consumers might suffer if the combined company were to keep its new content and existing IP captive on its own streaming platforms, as opposed to licensing such content across the media distribution ecosystem, including to competing platforms. Such an outcome appears unlikely given the Parties’ historical practices of broadly licensing content. Even when studios such as Paramount license content on exclusive terms to another streamer, they typically maximize the value of that content by moving it from one streamer to another at the end of a license term to broaden the audience exposure across differentiated distribution channels. The Division identified no evidence to suggest that Paramount’s historical practice or incentive to do so would end following the transaction… The evidence reviewed and carefully analyzed by the Division shows that the proposed acquisition is not likely to harm competition for linear television given the robust competitive landscape for live programming… The substantial body of evidence available to the Division indicates that the transaction is not likely to harm competition in studio development, production, or distribution of films for theatrical release… Another theory raised whether the merger would harm competition for labor as an input for the production and distribution of scripted content. While taking seriously the potential impact of the proposed transaction on the creative community and domestic labor groups, the substantial evidence does not suggest a likelihood of reduction in output. That is because the demand for creative workers and labor is correlated with the Parties’ incentives to maintain or expand output. Thus, the expressed labor concerns do not raise actionable antitrust concerns. The Division’s mandate is to investigate and, if necessary, litigate proposed mergers that harm competition or American consumers. This investigation included a review of reams of documentary evidence, hours of deposition testimony of senior-level executives, interviews with third-party witnesses, and staff-led meetings with the Parties themselves. These investigative efforts all led to the same conclusion: the film and television industry is highly dynamic, and the proposed transaction is not likely to harm competition or American consumers.”Introducing TipRanks MCP for Agents Deliver institutional-grade market data directly into Claude, ChatGPT, Cursor, and other MCP-compatible AI tools. Designed for personal research, portfolio monitoring, and AI-assisted investment workflows.