WSJ: DOJ approved the Paramount-Warner Bros. deal even as investigators were leaning toward suing to stop it
The Justice Department’s approval of Paramount’s $111 billion acquisition of rival Warner Bros. Discovery Friday came as a surprise to the agency’s antitrust investigators, according to Wall Street Journal reporting.
Per the WSJ, a team of lawyers who’d scrutinized the merger were leaning toward recommending a lawsuit to block the deal, but hadn’t gotten to make their final recommendation, before they were told that it had been approved on Friday.
Antitrust investigators typically make a final recommendation to the agency in the review process — and that recommendation is often followed by the agency — but that step was reportedly skipped in this instance. Last month, Semafor reported that senior DOJ antitrust officials appeared likely to approve the Paramount-WBD combo.
The deal could still face antitrust challenges from a collection of states led by California, and EU regulators.
Per the WSJ, a team of lawyers who’d scrutinized the merger were leaning toward recommending a lawsuit to block the deal, but hadn’t gotten to make their final recommendation, before they were told that it had been approved on Friday.
Antitrust investigators typically make a final recommendation to the agency in the review process — and that recommendation is often followed by the agency — but that step was reportedly skipped in this instance. Last month, Semafor reported that senior DOJ antitrust officials appeared likely to approve the Paramount-WBD combo.
The deal could still face antitrust challenges from a collection of states led by California, and EU regulators.
