Warner Bros sale to Paramount gets key approval by justice department

The approval marks a key development in the merger that will reshape media, allowing the continue of the takeover of the Hollywood studio, which owns CNN and HBO.

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The approval marks a key development in the merger that will reshape media, allowing the takeover bid of the Hollywood studio, which owns CNN and HBO, to continue.

The pending 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 major 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.

In a statement on its decision, the justice department said it had conducted a "rigorous" investigation of the proposed deal and found it was "not likely to result in harm to competition or American consumers."