⚡ Quick Take
The DOJ has approved the merger between Paramount and Warner Bros. without asking for any major concessions.
Paramount and the DOJ claim this is a pro-competitive action, but state AGs are considering an antitrust lawsuit.
Consumers deserve a competetive market and for their media not to be in the hands of only a few.
In wild news, the massive merger between Paramount and Warner Bros. has been approved by the DOJ without any concessions necessary to gain this regulatory approval. Although it seemed like the Netflix bid to acquire Warner Bros. has been well and truly dead, it comes as a massive shock that no major amendments were required of the proposed (nearly) $111 billion purchase. This merger creates, in essence, a super-powered studio. And while Paramount views the deal as pro-competitive—to those in the entertainment industry, it seems like a massive shifting of power. In sum, this deal allows Paramount to acquire the Warner Bros. movie studio, CNN, HBO, and other Warner Bros. Discovery properties.
Paramount/Warner Bros. Discovery A Paramount spokesperson shared the following with Deadline
The DOJ noted that the merger between Paramount and Warner Bros. “is not likely to result in harm to competition or American consumers, including with respect to: (1) streaming video on demand (“SVOD”); (2) linear television; and (3) studio development, production, or distribution of films for theatrical release.”
Meanwhile, state attorneys general in California, New York, and other states are considering an antitrust lawsuit, but whether that would be enough to slow or end the deal is unclear.
In all, it’s hard to know what the best options for consumers, the people who matter most to us at Nerdist , might be. But ultimately, the continued consolidation of our networks, studios, and news channels into the hands of only a few remains alarming. We want our media to reflect many voices and perspectives, not be streamlined to the will of just a handful. We’ll see what comes of this union between Paramount and Warner Bros.
The post DOJ Approves $111B Paramount-Warner Bros. Merger appeared first on Nerdist .
This articles is written by : Nermeen Nabil Khear Abdelmalak
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