Paramount Skydance's $111bn (£828mn) acquisition of Warner Bros Discovery has been approved by the US Department of Justice, according to the BBC's news partner CBS.
- +Warner Bros $111bn sale to Paramount approved by US Justice Department
The approval marks a key development in the merger that will reshape media, allowing a takeover of the Hollywood studio, which owns CNN and HBO, to continue.
The approval marks a key development in the merger that will reshape media, allowing a takeover of the Hollywood studio, which owns CNN and HBO, to continue.
The sale has been filled with contention, from Paramount's battle with Netflix over the company to scrutiny over industry consolidation and worries about politics. David Ellison, the leader of Paramount, is the son of Larry Ellison, a donor to President Donald Trump.
But it's not a done deal yet, as states like California are reviewing the sale and could sue to block it.
The BBC has contacted the justice department and its anti-trust division that approved the acquisition.
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