DOJ Approves Paramount–Warner Bros. $111B Mega-Merger Without Restrictions
The U.S. Department of Justice has given its blessing to one of the most significant media deals in history: Paramount Skydance’s proposed $111 billion acquisition of Warner Bros. Discovery (WBD). The DOJ’s Antitrust Division approved the transaction without requiring any divestitures, behavioral remedies, or concessions — a sweeping green light that clears a critical regulatory hurdle for the deal.
In its determination, the DOJ stated that “the transaction is not likely to result in harm to competition or American consumers,” covering areas such as streaming video on demand, linear TV, and studio film production. The combined entity would unite Paramount+, CBS, MTV, and the Paramount film studio with Warner Bros., HBO, CNN, TBS, and streaming platform HBO Max — creating a colossal global media powerhouse.
Paramount CEO David Ellison has pledged to close the deal by September 30, 2026, after which shareholders would receive a “ticking fee” of several million dollars per day if the deal remains open. The merger still awaits regulatory review from the European Union, which has set a July 14 deadline for vetting, and the UK’s Competition and Markets Authority, which opened its own investigation on June 9. State attorneys general may also mount legal challenges.
Source: CNBC – Paramount-WBD merger wins approval from DOJ