The U.S. Department of Justice has approved the merger between Paramount Global and Warner Bros. Discovery, according to a statement released on June 12, 2026. The decision allows the two media conglomerates to combine, forming one of the largest entertainment companies in the world.
The merger, valued at approximately $70 billion, will bring together assets including Paramount Pictures, CBS, and MTV with Warner Bros. studios, HBO, and CNN. The combined entity will compete with rivals like Disney and Netflix in streaming and traditional media.
DOJ officials stated that the merger was approved after a review of antitrust concerns, concluding that it would not substantially lessen competition in the market. Conditions may include divestitures of certain assets to ensure fair competition.
Shares of both companies rose following the announcement. The deal is expected to close by the end of 2026, pending regulatory approvals in other jurisdictions.
