DOJ clears Paramount’s $111 billion merger with Warner Bros. Discovery
What’s next: Paramount said it plans to close the deal soon, while California and EU antitrust scrutiny remains in play.
The Justice Department closed its antitrust review of Paramount’s proposed $111 billion merger with Warner Bros. Discovery on Friday, clearing the way for one of the biggest media tie-ups in years. The combined company would unite Paramount, the owner of CBS, with Warner Bros. Discovery, whose holdings include HBO and CNN. The department said it found no threat to competition or consumers in film, broadcast television or streaming. Paramount called the transaction pro-competitive and said it would move to complete the merger as soon as possible. The deal still faces concerns from several states, including California, and a separate investigation by the European Union.