Justice Department clears Paramount’s acquisition of Warner Bros.
RICARDO NAGAOKA/THE NEW YORK TIMES
The Paramount studio lot in Los Angeles, in November 2025. Paramount said on Monday, Dec. 22, that Larry Ellison, the father of Paramount’s chief executive David Ellison, is personally guaranteeing the roughly $40.4 billion in equity that the company is offering as part of its bid for Warner Bros. Discovery.
FILE — The Paramount studio lot in Los Angeles, Nov. 7, 2025. Paramount said on Monday, Dec. 22, that Larry Ellison, the father of Paramount’s chief executive David Ellison, is personally guaranteeing the roughly $40.4 billion in equity that the company is offering as part of its bid for Warner Bros. Discovery. (Ricardo Nagaoka/The New York Times)
WASHINGTON >> The Justice Department’s Antitrust Division said it has cleared Paramount Skydance Corp’s planned $110 billion acquisition of Warner Bros. Discovery.
Department of Justice officials said in a statement released late today that they determined the transaction did not pose a threat to competition in streaming, the traditional television business or film.
The clearance gives Paramount another regulatory green light to point to as it seeks to ward off a potential challenge to the deal by states. In April, Paramount also asked the Federal Communications Commission to approve foreign investments backing the acquisition.
U.S. senators have raised concerns about Middle Eastern sovereign wealth funds and Chinese companies taking part. The FCC has yet to make a determination.
Analysts had expected the DOJ not to challenge the deal because of Paramount’s political connections. Paramount CEO David Ellison’s father, billionaire Oracle co-founder Larry Ellison, has cultivated ties with President Donald Trump, and the company has hired former Trump officials.
Assistant Attorney General Omeed Assefi had said that politics would “absolutely not” drive the DOJ’s review of the transaction.
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Paramount has argued the deal has no antitrust problems and said the combined company would increase competitive pressure on Disney and Netflix. However, several in Hollywood — including actors, directors, writers and producers — have expressed concern that the merger would result in fewer jobs and less diversity of storytelling. California,
New York and other U.S. states are preparing a lawsuit to block the deal, sources familiar with the matter told Reuters last week.
