Overview
- The U.S. Department of Justice’s Antitrust Division formally approved the acquisition on Friday after an eight-month review and did not require divestitures, behavioral remedies, or other conditions.
- The transaction is valued at about $110–111 billion and would combine major assets including HBO/HBO Max, Paramount+, Warner Bros. studios and CNN under the new company.
- A coalition of state attorneys general led by California’s Rob Bonta is preparing a likely antitrust lawsuit and European and U.K. regulators have open formal reviews that could delay or block closing.
- The deal is financed largely by Larry Ellison with outside investors holding nonvoting stakes, a structure that has drawn scrutiny over foreign financing, governance and political ties to President Trump.
- If completed, the merged company would be a larger rival to Netflix and Disney, with potential effects on streaming bundles, content production and newsroom oversight that have drawn criticism from creators and some lawmakers.