WSJ: Justice Department Decision to Allow Paramount Deal Surprised Staff Investigators
Senior DOJ officials said the $110 billion deal is unlikely to harm competition or consumers after staff had leaned toward suing.
- The Justice Department cleared the $110 billion Paramount-Warner Bros Discovery merger, determining the transaction was unlikely to harm competition after completing its Hart-Scott-Rodino review.
- Career investigators had spent eight months scrutinizing the deal and leaned toward recommending a lawsuit, but senior officials signed off after Paramount CEO David Ellison addressed staff questions about releasing 30 films annually.
- Beyond federal clearance, the Australian Competition and Consumer Commission granted approval subject to a 14-calendar-day waiting period expiring June 23, while Paramount faces a $7 billion termination fee if regulatory matters block the deal.
- On Friday, California Attorney General Rob Bonta said the merger is "not a done deal and remains under investigation" by the California DOJ, as state AGs prepare potential legal action this month.
- The European Commission and United Kingdom regulators are concurrently reviewing the deal, with the EC setting a July 7 deadline to decide on a Phase 2 investigation as companies aim to close by Sept. 30.
22 Articles
22 Articles
Why some say the Paramount-Warner Bros. merger creates a monopoly
When the Justice Department’s antitrust division announced last week that Paramount Skydance could proceed with its $111 billion bid to acquire rival Warner Bros. Discovery, federal regulators made a bold claim about the future of television. The deal could give billionaire David Ellison — an ally of President Donald Trump — a striking degree of control over the news programming Americans watch on television through CBS News and CNN. Ellison wo…
Ars Technica
MASSIVE.NEWSUS approval of Paramount/Warner Bros. deal surprised DOJ lawyers, report says
Trump admin green-lighting $111B deal "reeks of corruption," Sen. Warren says.
A $110 billion operation will create the world’s largest entertainment conglomerate. The Justice Department approved the acquisition of Warner Bros. Discovery by Paramount after eight months of regulatory review, as confirmed by both companies and reported Reuters. WBD shareholders will receive $31 per cash share, a 147% pre-advertising price award.The merger combines franchises such as Game of Thrones, Harry Potter and the DC Universe with Miss…
‘Reeks of Corruption’: Top DOJ Officials Reportedly Cleared Paramount-Warner Bros. Merger Before Staff Lawyers, Who Were ‘Leaning’ Toward Antitrust Lawsuit, Could Object
Top Justice Department officials moved to drop the antitrust investigation into Paramount’s $111 billion takeover of Warner Bros. Discovery before the team of lawyers investigating the matter could issue a recommendation, the Wall Street Journal reported. The career lawyers in the DOJ’s Antitrust Division had been “leaning” toward advising that the department should file a […]
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