US clears Paramount Skydance’s $111 billion Warner Bros takeover
What’s next: California is still reviewing the deal and could sue, even after federal antitrust officials let the merger proceed.
The US Justice Department approved Paramount Skydance’s proposed $111 billion acquisition of Warner Bros Discovery, a major step in a deal that would redraw the Hollywood landscape. The combination would put CNN, HBO, TBS, TNT, TCM, DC Studios and New Line Cinema under the same corporate roof as Paramount Pictures, CBS, Showtime and Nickelodeon. Federal officials concluded the merger was unlikely to hurt competition or consumers. The deal still faces scrutiny from California Attorney General Rob Bonta, whose office said the matter remains under investigation. More than 1,400 actors, directors and filmmakers opposed the tie-up in an open letter, warning of fewer jobs, fewer opportunities and less choice for audiences.