DOJ backs $111 billion Paramount Skydance-WBD media merger
What's next: The approval follows an eight-month antitrust review that found the tie-up was unlikely to hurt competition or consumers.
The Justice Department backed Paramount Skydance's $111 billion acquisition of Warner Bros. Discovery on Friday, removing a major regulatory hurdle for one of the largest media deals in years. The department said its eight-month investigation found the transaction was not likely to harm competition or American consumers. The ruling allows Paramount Skydance to move forward with the takeover of Warner Bros. Discovery, combining major film, television and streaming assets under one corporate umbrella. ABC described the decision as the department's formal signoff after months of antitrust scrutiny.