The US Justice Department has approved Paramount's acquisition of Warner Bros. Discovery for $110 billion (€95 billion), concluding an eight-month review. Antitrust regulators reportedly found no evidence that the massive merger between two former rivals would harm consumers.

Paramount has argued that the new joint media company would combine streaming libraries of HBO Max and Paramount+, providing more value to users and putting pressure on platforms like Disney+ and Netflix.

However, many Hollywood directors and actors oppose the merger, viewing it as further consolidation of power in the US entertainment industry, already dominated by a handful of big companies. Free speech activists also point to Paramount's connections with the Trump administration.

Paramount Skydance is led by David Ellison, son of tech titan Larry Ellison, a close Trump ally. The company has hired former Trump administration members, including a senior antitrust official and a White House lawyer.

The takeover will also give Paramount ownership of CNN, a global broadcaster often critical of the US president. Paramount already owns CBS, led by Bari Weiss, who has faced accusations of trying to influence coverage in favor of Trump.

Despite the Justice Department's approval, the merger could still be halted in court. According to Reuters, California, New York, and several other states are preparing a lawsuit against the deal. EU officials are still reviewing the merger, with a decision possible in July. UK market regulators also aim to publish a decision by early August.

Source: www.dw.com