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Warner Bros $111bn sale to Paramount approved by US Justice Department
Key takeaways
- Paramount Skydance's $111bn (£828mn) acquisition of Warner Bros Discovery has been approved by the US Department of Justice, according to the BBC's news partner CBS.
- The approval marks a key development in the merger that will reshape media, allowing a takeover of the Hollywood studio, which owns CNN and HBO, to continue.
- The sale has been filled with contention, from Paramount's battle with Netflix over the company to scrutiny over industry consolidation and worries about politics.
Why this matters: a developing story that could shape the day's news cycle.
Paramount Skydance's $111bn (£828mn) acquisition of Warner Bros Discovery has been approved by the US Department of Justice, according to the BBC's news partner CBS.
The approval marks a key development in the merger that will reshape media, allowing a takeover of the Hollywood studio, which owns CNN and HBO, to continue.
The sale has been filled with contention, from Paramount's battle with Netflix over the company to scrutiny over industry consolidation and worries about politics. David Ellison, the leader of Paramount, is the son of Larry Ellison, a donor to President Donald Trump.
Article preview — originally published by BBC News. Full story at the source.
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