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Paramount-Warner Bros. Discovery Merger Has State AGs Seeing More Than Just Antitrust Issues

The Justice Department approved Paramount Global’s $111 billion acquisition of Warner Bros. Discovery on Friday, ending federal antitrust review. State attorneys general now focus on broader concerns beyond competition, including political influence and media consolidation. The deal still faces potential lawsuits from state officials. DOJ staff reportedly expected a blocked deal, raising scrutiny over the approval process.

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What changed

The DOJ’s approval is now final, but state-level legal challenges and political fallout have intensified since Friday.

Live updates

  1. DOJ Clears Paramount-WBD Merger; State AGs Now Target Political Risks

    The Justice Department approved Paramount Global’s $111 billion acquisition of Warner Bros. Discovery on Friday, ending federal antitrust review. State attorneys general now focus on broader concerns beyond competition, including political influence and media consolidation. The deal still faces potential lawsuits from state officials. DOJ staff reportedly expected a blocked deal, raising scrutiny over the approval process.

    What's confirmed:

    • The Justice Department approved Paramount Skydance’s $111 billion takeover of Warner Bros. Discovery on June 12, 2026.
    • State attorneys general can still sue to block the merger under state antitrust laws, with California and other states actively reviewing the deal.
    • DOJ staff investigators were reportedly surprised by the approval, with internal reviews suggesting concerns over the merger’s impact on competition.
    • The merger combines two major Hollywood studios, CNN, and CBS News under one corporate roof, raising concerns about media influence.
    • The deal remains under scrutiny in the UK, where a new investigation is ongoing.

    Still unconfirmed:

    • The Trump administration’s approval of the merger ‘reeks of corruption,’ according to Sen. Elizabeth Warren.
    • David Ellison, CEO of Skydance and a major Trump ally, will join the former president at upcoming UFC events, raising questions about political ties influencing the deal.
    • State AGs are prioritizing non-antitrust issues, including potential conflicts of interest tied to Ellison’s close relationship with Trump.
    • The merger could face lawsuits from state attorneys general, with California leading efforts to challenge the deal on broader grounds.
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