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The Antitrust Division of the U.S. Justice Department has cleared Paramount Skydance's planned $110bn acquisition of Warner Bros. Discovery, saying the deal was unlikely to harm competition or consumers. The DOJ approved the merger without requiring any divestitures, behavioral remedies or concessions, according to a source. The deal is opposed by many in the entertainment industry who fear it could precipitate mass layoffs, among other concerns. The Antitrust Division said its eight-month review “determined based on the evidence received in its investigation that the transaction is not likely to result in harm to competition or American consumers” and could ultimately increase it by creating a stronger competitor across streaming, television and film.
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