Donald Trump’s Department of Justice has approved Paramount-Skydance’s $111 billion acquisition of Warner Bros. Discovery, the parent company of CNN and HBO Max.
Politico reported that the merger is expected to be announced Friday, according to two people familiar with the matter.
“After an extensive review, DOJ officials determined the transaction did not pose a threat to competition and declined to challenge it, said the people, who were granted anonymity to discuss sensitive matters. The department approved the merger without requiring any divestitures, behavioral remedies or concessions, according to one of the people,” Politico reported.
Paramount CEO and owner, David Ellison, reportedly met in person with DOJ Antitrust Division officials in the weeks leading up to the potential deal. David Ellison is the son of pro-Trump tech titan Larry Ellison.
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