Paramount Gets Justice Dept. Approval to Buy Warner Bros.
Gizmodo • • general
Key Points:
- The U.S. Department of Justice has approved Paramount's $110 billion merger with Warner Bros., stating that the deal is unlikely to harm TV and movie businesses or American consumers.
- Paramount praised the DOJ's decision, calling the merger "pro-competitive" and beneficial for consumers, creators, and the entertainment industry.
- The approval contrasts with concerns from many in the entertainment industry and antitrust experts, as no concessions were required, potentially allowing Paramount to dominate Hollywood.
- California and New York plan to sue to block the merger on antitrust grounds, while the European Commission and the UK’s Competition and Markets Authority are also investigating the deal.
- Senator Elizabeth Warren criticized the approval, accusing the merger of corruption and influence-peddling and urging state attorneys general to intervene.