DOJ Signals Green Light for Paramount's $110 Billion Warner Bros. Discovery Takeover

U.S. antitrust regulators appear ready to approve Paramount's acquisition of Warner Bros. Discovery following a two-hour Department of Justice meeting on May 26. The deal, valued at $110 billion and backed by the Ellison Family Trust, had faced regulatory uncertainty in early May. DOJ staff signaling historically precedes formal clearance. Combined, the company would control CBS, CNN, HBO, Max, and Warner Bros. studios—concentrating power across news, scripted drama, sports, and streaming. Expected Q3 2026 close is now substantially de-risked.