economy
Paramount-WBD merger wins approval from DOJ
The DOJ approval is an important milestone for the roughly $110 billion deal, though it could still face legal challenges from state attorneys general.
TL;DR
- The U.S. Department of Justice has cleared Paramount Skydance's acquisition of Warner Bros. Discovery.
- The DOJ found the merger unlikely to harm competition or consumers.
- California Attorney General is still investigating the proposed deal.
- Paramount expects the deal to close by September, pending further approvals.
- Paramount's offer to acquire WBD assets was $31 per share.
- European regulatory approval is still pending, with a July 14 deadline.
- Australian authorities have already approved the transaction.