The $110 billion union of the parent companies of CBS Sports and TNT Sports drew much closer to reality Friday.

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.

A coalition of state attorneys general led by California is preparing a lawsuit to challenge the merger.

The $110 billion union of the parent companies of CBS Sports and TNT Sports drew much closer to reality Friday.

The U.S. Justice Department has approved Paramount Skydance Corp's massive $110 billion acquisition of Warner Bros. Discovery. This regulatory green light comes as several states…