Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery would not harm U.S. consumers or weaken competition, DOJ antitrust enforcers said.

Paramount Skydance defeated Netflix in the battle to acquire Warner Bros. Discovery, committing $111 billion for the merger.

The DOJ approval is an important milestone for the roughly $110 billion deal, though it could still face legal challenges from state attorneys general.

The Antitrust Division of the U.S. Department of Justice issued a statement in connection with the closing of the Division’s investigation into ...