The United States Department of Justice has granted final approval for Paramount Global’s proposed acquisition of Warner Bros.
Discovery, clearing the last major regulatory hurdle for the media merger.
The clearance marks the end of a protracted antitrust review that had kept the $110 billion deal in limbo for months, allowing the two entertainment giants to formally combine their vast libraries, studio operations, and streaming platforms.
The Justice Department’s decision signals that regulators are satisfied the combined entity will not unduly harm competition in the content creation and distribution markets.
This domestic green light follows a complex regulatory landscape that also included scrutiny from European authorities, who have launched an investigation into the financial structure of the deal, specifically targeting the role of Gulf-state investors.
The US approval, however, is the critical milestone for the transaction's immediate viability.