business
Justice Department Clears Paramount Skydance Purchase of Warner Bros. Discovery, Creating Larger Media Company
The U.S. Department of Justice approved the $111 billion deal on Friday. Paramount Skydance now plans to close the purchase by the end of September.
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U.S. Department of Justice approved Paramount Skydance's acquisition of Warner Bros. Discovery on Friday, June 12, 2026. The department stated that the transaction is not likely to result in harm to competition or American consumers in streaming, traditional TV, or film production and distribution.
It added that substantial evidence does not suggest a likelihood of reduction in output in creative output. The clearance removes a major regulatory obstacle for the $111 billion deal. Paramount Skydance plans to complete the acquisition by the end of September 2026.
The company agreed to pay Warner Bros. Discovery shareholders a ticking fee of approximately $7 million per day starting September 30, 2026, for each day the deal remains unclosed. " Warner Bros. Discovery assets included in the deal are the Warner Bros.
Studio, HBO Max, CNN, HGTV, and TruTV. Paramount Skydance CEO David Ellison would lead the combined company. Warner Bros. 75 per share.
Paramount offered $30 per share for the entire company, including its TV assets. Warner Bros. Discovery's board selected the Paramount offer over Netflix's offer in February 2026. Both companies had argued they offered the more favorable regulatory path and greater value to shareholders.
U.S. states.
