The U.S. Department of Justice has concluded its investigation into Paramount Skydance Corp. An antitrust investigation into the $110 billion acquisition of Warner Bros. Discovery says the deal is "unlikely" to harm consumers or competition in the film and TV industry. The federal antitrust agency said in a statement on Friday that it would not require any changes to the deal, which regulators have been reviewing for about eight months.
"These investigative efforts all reached the same conclusion: the film and television industry is extremely dynamic and the proposed transactions are unlikely to harm competition or American consumers," the Justice Department said in a statement.
A group of state attorneys general led by California have also been investigating the deal, which would combine two of Hollywood's five major studios. Media previously reported that these states were preparing to file lawsuits to block the merger.
The Justice Department's approval was expected.
Paramount welcomed the Justice Department's decision.
"This transaction is pro-competitive and will create a stronger company that will better position us to compete with dominant tech platforms in an industry increasingly competing for audiences, talent, technology and investment," the company said in a statement.
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