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00:02The Justice Department cleared the proposed Paramount Skydance acquisition of Warner Bros. Discovery,
00:08finding the roughly $110 billion deal unlikely to harm competition or consumers, according to CNBC.
00:15Paramount offered $31 per share for WBD's assets, which include CNN, TBS, the Warner Bros. film studio, and HBO Max.
00:25Paramount called the deal pro-competitive and said it would create a stronger company better positioned to challenge dominant tech
00:32platforms.
00:33CEO David Ellison told investors in April that the deal is on track to close by September,
00:39after which a ticking fee makes the transaction more expensive.
00:42The deal still faces a California Department of Justice investigation.
00:46It awaits European regulatory approval, with the EU setting a July 14th deadline for its review.
00:51For all things money, visit Benzinga.com.
00:55Zyilo
