The U.S. Department of Justice (DOJ) closed its antitrust investigation into Paramount Skydance’s proposed acquisition of Warner Bros. Discovery on Friday, opening the door for the merger to proceed.
According to a DOJ news release, the agency’s antitrust division found that the merger is not likely to result in harm to competition or to American consumers regarding streaming video on demand, linear television, and studio development, production, or films for theatrical release.
The eight-month investigation involved a review of more than 2 million documents provided to the DOJ by both Paramount and Warner Bros.
Ultimately, the DOJ found Paramount’s proposed merger could “increase competition across the media and entertainment ecosystems, with benefits for American consumers and workers.”…