US DOJ Approves Paramount-Skydance $111B Warner Deal

The U.S. Department of Justice has cleared Paramount Skydance Corp.'s proposed $111 billion acquisition of Warner Bros. Discovery, removing a major federal antitrust hurdle for the merger that would reshape the media landscape. The approval, confirmed on Friday, June 12, 2026, was granted without requiring any divestitures or concessions from the companies after an extensive review.

Justice Department officials concluded the transaction did not pose a threat to competition and was not likely to harm American consumers. The investigation examined potential effects on streaming services, linear television, and film production and distribution. Paramount stated it was grateful for the department's thorough review and that the deal is pro-competitive, creating a stronger company to compete against dominant technology platforms.

Despite the federal clearance, the merger faces significant ongoing challenges. A coalition of state attorneys general, led by California's Rob Bonta, is actively investigating and is widely expected to file an antitrust lawsuit to block the deal, potentially as soon as this month. Senator Elizabeth Warren criticized the Justice Department's decision, calling...