DOJ Greenlights Paramount's $111 Billion Acquisition of Warner Bros.

WHO:

CNN - The deal is bankrolled by Larry Ellison, the billionaire co-founder of Oracle, whose son David Ellison became CEO of Paramount through a merger last year.

CBS News - Paramount Skydance, Warner Bros. Discovery, U.S. Department of Justice (DOJ)

CNN - Trump administration, Paramount CEO David Ellison, California Attorney General Rob Bonta, Larry Ellison, David Ellison

Deadline - State Attorneys General in California, New York

WHAT:

AP News - The Justice Department concluded that the merger will "increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers."

AP News - The European Commission has listed July 7 as a tentative deadline for its review of the merger.

AP News - The U.K.’s Competition and Markets Authority aims to make an initial decision about its probe by early August.

AP News - Paramount has pledged to give shareholders a 25-cent per share "ticking fee" for every quarter past September 30 if the acquisition does not close by that date.

AP News - Paramount has agreed to a regulatory termination fee of $7 billion.

CBS News - The Department of Justice stated that Paramount Skydance's acquisition of Warner Bros. Discovery is valued at $110 billion.

CNN - The DOJ's Antitrust Division concluded that the merger would "increase competition across the media and entertainment ecosystem."

NPR - The Justice Department's review found that the merger posed no threat to competition or consumers of film, broadcast television, or streaming, citing the expansion of competition in the streaming market.

BBC News - The approval marks a key development in the merger that will reshape media, allowing the continuation of the takeover of the Hollywood studio, which owns CNN and HBO.

CNN - The Department of Justice stated that the acquisition is "not likely to harm competition."

ABC News - The Department of Justice's Antitrust Division concluded that the merger would "increase competition across the media and entertainment ecosystem."

BBC News - The approval marks a key development in the merger that will reshape media, allowing the continuation of the takeover of the Hollywood studio, which owns CNN and HBO.

The Hollywood Reporter - The Justice Department's approval does not require any divestitures, behavioral remedies, or concessions.

CNN - The Department of Justice stated that the transaction is "not likely to result in harm to competition or American consumers, including with respect to: (1) streaming video on demand (“SVOD”); (2) linear television; and (3) studio development, production, or distribution of films for theatrical release."

ABC News - Paramount described the deal as "pro-competitive," stating it would result in a stronger company better positioned to compete against dominant technology platforms.

NPR - California Attorney General Rob Bonta stated that "the merger of Warner Bros and Paramount is not a done deal and remains under investigation by my office."

ABC News - The Department of Justice stated that the acquisition is "not likely to harm competition."

CNN - The DOJ's review concluded that the merger would not harm competition or American consumers in various markets, including streaming video on demand, linear television, and studio development.

NPR - The DOJ's Antitrust Division found that the merger posed no threat to competition or consumers of film, broadcast television, or streaming.

CNN - The acquisition is valued at $111 billion and includes assets like CNN and HBO.

Techmeme - The DOJ approved Paramount's $111 billion purchase of WBD without forcing divestitures or behavioral remedies; state AGs could still try to block the move.

CBS News - The DOJ approved Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery.

Techmeme - The DOJ's review determined the acquisition would not harm competition or consumers.

ABC News - The DOJ stated the acquisition is not likely to harm competition.

CNN - The acquisition is valued at $111 billion and includes assets like CNN and HBO.

TMZ - The DOJ's decision clears the way for the merger.

Variety - The DOJ approved the merger without requiring any divestitures or behavioral remedies.

WHERE:

The Hollywood Reporter - A coalition of states led by California is preparing a lawsuit to block the deal, with New York, Colorado, Oregon, Nevada, Washington, Connecticut, and Tennessee among those in talks to join.

NPR - The merger is under investigation by the California Department of Justice.

CNN - The merger involves assets located in the U.S. and is subject to reviews by the European Union and the United Kingdom.

WHEN:

CNN - Paramount aims to complete the transaction by the end of September.

CNN - Paramount executives discussed possibly clearing all hurdles in July.

WHY:

NPR - Critics of the WBD deal have pointed to Paramount’s overhaul of CBS News and programs like “60 Minutes” as evidence of the company’s willingness to accommodate political pressure.

ABC News - Paramount described the deal as "pro-competitive," stating it would result in a stronger company better positioned to compete against dominant technology platforms.

The Hollywood Reporter - Senator Elizabeth Warren stated that the merger "has reeked of corruption and influence-peddling," urging state attorneys general to challenge it.

NPR - Paramount described the deal as "pro-competitive," stating it would result in a stronger company better positioned to compete against dominant technology platforms.

CNN - Paramount claims the deal is "fundamentally pro-competitive."

CNN - The DOJ concluded the merger would not harm competition or American consumers in various markets, including streaming and theatrical releases.

CNN - Paramount claims the deal is "fundamentally pro-competitive."

HOW:

CNN - The DOJ conducted an eight-month review of the acquisition, which included depositions of some Paramount executives and a long meeting with David Ellison.

CNN - The DOJ's review included depositions of some Paramount executives and a long meeting with David Ellison, led by career employees, not Trump appointees.

CNN - The DOJ conducted an eight-month review of the acquisition, which included depositions of some Paramount executives and a long meeting with David Ellison.

CNN - The DOJ conducted an eight-month review of the acquisition.

CNN - The review included depositions of Paramount executives and meetings with DOJ officials.

(UPDATED June 13, 2026 23:15 UTC)

The Justice Department has determined that a merger will enhance competition in the media and entertainment sectors, ultimately benefiting American consumers and workers. Meanwhile, the European Commission has set a tentative deadline of July 7 for its review of the merger, while the U.K.’s Competition and Markets Authority plans to reach an initial decision by early August. Additionally, Paramount has committed to paying shareholders a 25-cent per share "ticking fee" for each quarter past September 30 if the acquisition remains incomplete by that date, and has also agreed to a regulatory termination fee of $7 billion.

(UPDATED June 13, 2026 15:26 UTC)

The Department of Justice has approved Paramount Skydance's acquisition of Warner Bros. Discovery, a deal valued at an impressive $110 billion, stating that it will enhance competition in the media and entertainment landscape. However, a coalition of states led by California is gearing up to file a lawsuit to block the merger, with several other states considering joining the effort. Critics have raised concerns about Paramount's past actions, while the company defends the deal as "pro-competitive," arguing it will better position them against major tech platforms.

(UPDATED June 13, 2026 13:20 UTC)

The Department of Justice has approved a major merger in the media and entertainment sector, stating it is "not likely to harm competition" and will actually "increase competition across the media and entertainment ecosystem." This approval allows the takeover of a Hollywood studio that owns CNN and HBO to proceed without any required divestitures or concessions, although a coalition of states led by California is preparing a lawsuit to block the deal, with several other states considering joining in. Senator Elizabeth Warren has voiced her concerns, describing the merger as "reeked of corruption and influence-peddling" and urging state attorneys general to challenge it.

(UPDATED June 13, 2026 11:33 UTC)

The Department of Justice has indicated that the merger between Warner Bros and Paramount is unlikely to harm competition or American consumers across various sectors, including streaming video on demand and film production. Paramount has characterized the deal as "pro-competitive," suggesting it would create a stronger entity to better compete with major technology platforms. However, California Attorney General Rob Bonta has emphasized that this merger is still under investigation by his office, making it clear that the deal is not yet finalized.

(UPDATED June 13, 2026 08:05 UTC)

The Department of Justice has concluded that the merger under investigation by the California Department of Justice is "not likely to harm competition" and will not negatively impact American consumers in various markets, including streaming video on demand and linear television. Paramount has characterized the deal as "pro-competitive," arguing that it will create a stronger company better equipped to compete against major technology platforms. The DOJ's review involved depositions from Paramount executives and a lengthy meeting with David Ellison, conducted by career employees rather than Trump appointees.

(UPDATED June 13, 2026 01:42 UTC)

Paramount has received the green light from the DOJ for its massive $111 billion acquisition of Warner Bros. Discovery, which includes major assets like CNN and HBO, with plans to finalize the deal by the end of September. The acquisition, backed by billionaire Larry Ellison, who has a family connection to Paramount's leadership, was approved without any required divestitures or behavioral remedies, although state attorneys general may still attempt to intervene. Paramount argues that this deal is "fundamentally pro-competitive," following an extensive eight-month review that involved interviews with key executives, including CEO David Ellison.

(UPDATED June 12, 2026 23:22 UTC)

In a significant development, the U.S. Department of Justice has approved Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery, stating that the merger is not likely to harm competition or consumers. The deal, which is valued at $111 billion and includes major assets like CNN and HBO, has been cleared without any requirements for divestitures or behavioral remedies. Paramount executives are optimistic about completing the transaction by the end of September, with discussions about potentially overcoming all hurdles as early as July. The DOJ's review, which lasted eight months, involved depositions of Paramount executives and meetings with DOJ officials. This merger is also subject to reviews by the European Union and the United Kingdom, but the DOJ has concluded that it will be fundamentally pro-competitive in various markets, including streaming and theatrical releases.