The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles.
Nick Ut/AP
hide caption
toggle caption
Nick Ut/AP
The Department of Justice has concluded its antitrust inquiry into the anticipated $111 billion merger between Paramount and Warner Brothers Discovery, determining no risk to competition or consumer choice in film, broadcast television, or streaming services.
This decision removes a major obstacle for the merging of these two legendary studio competitors: Paramount, which owns CBS, and the larger Warner, which encompasses HBO and CNN.
Despite this clearance, several states, including California, have voiced antitrust concerns, and the European Union is also conducting its own investigation.
Following the decision, Paramount released a statement describing the merger as “pro-competitive,” suggesting it will create “a stronger company better positioned to compete against dominant technology platforms in an industry increasingly defined by intense competition for audiences, talent, technology, and investment.”
The company aims to finalize the merger swiftly, promising benefits to consumers, content creators, and the entertainment sector overall.
This is a breaking news story and will be updated.
NPR’s Carrie Johnson contributed to this story.
