The U.S. Department of Justice has approved Paramount’s proposed acquisition of Warner Bros. Discovery (WBD), clearing a serious hurdle for the blockbuster media merger.
The deal, valued at roughly $110 billion, had faced antitrust scrutiny but is now expected to shut in September. While the transaction could still encounter legal challenges from state attorneys general, federal regulators have opted to not oppose it. The merger had previously received approval from WBD shareholders.
In line with a report from Politico, DOJ officials concluded that the transaction wouldn’t significantly harm competition. The report states,
“After an in depth review, DOJ officials determined the transaction didn’t pose a threat to competition and declined to challenge it. The department approved the merger without requiring any divestitures, behavioral remedies or concessions.”
The merger could have implications across the sports and entertainment landscape, including for All Elite Wrestling. AEW currently has a media rights agreement with WBD that runs through the tip of 2027, with an option for 2028.
If the acquisition is finalized, Paramount’s streaming service Paramount+ and WBD’s HBO Max are expected to be combined right into a single streaming platform. AEW programming and pay-per-view events are currently available on HBO Max, though it stays unclear how the merged company’s streaming strategy will impact AEW content in the longer term.
For now, it is simply too early to find out where AEW’s programming would ultimately reside once the merger is accomplished and the combined company finalizes its plans.
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