US Justice Department clears Paramount's $111 bn takeover of Warner Bros Discovery

The U.S. Justice Department’s antitrust division has approved Paramount Skydance’s acquisition of Warner Bros Discovery for roughly $111 billion, concluding the deal will not harm competition or American consumers. The department did not require divestitures or commitments, stating the merger could boost competition in streaming, television, and theatrical film distribution.

Industry figures warn the consolidation could trigger large job cuts, and a coalition of about ten states, led by California, is preparing an antitrust lawsuit against the merger. Both Paramount and Warner Bros Discovery are late entrants in the subscription‑streaming market, each with fewer subscribers than leaders Netflix, Amazon Prime and Disney+.

The approval removes the primary federal regulatory hurdle, allowing the creation of a new media giant that would rank among the five largest Hollywood studios.