DOJ Antitrust case Paramount Skydance / Warner Bros. Discovery (HSR investigation): Paramount Skydance / Warner Bros. Discovery
The United States Department of Justice, Antitrust Division cleared Paramount Skydance's acquisition of Warner Bros. Discovery on 12 June 2026 (case Paramount Skydance / Warner Bros. Discovery (HSR investigation)).[1]
The Antitrust Division issued a Second Request, the Hart-Scott-Rodino waiting period expired in February 2026 once Paramount certified compliance, and on 12 June 2026 the Division announced it had closed its investigation, concluding the merger was not likely to harm competition in streaming, linear television or theatrical film.
Paramount Skydance agreed to buy Warner Bros. Discovery for $31.00 a share in cash, which the companies put at $81 billion in equity value and $110 billion in enterprise value. It would combine the Paramount and Warner Bros. film studios, CBS and CNN, and HBO Max with Paramount+. Warner Bros. Discovery shareholders approved it on 23 April 2026 and the European Commission cleared it in July 2026.