Justice Department approves Paramount Skydance’s acquisition of Warner Bros. Discovery

The Justice Department has signed off on Paramount Skydance’s $110 billion acquisition of Warner Bros. Discovery, a person familiar with the matter told NBC News.

The Justice Department has signed off on Paramount Skydance’s $110 billion acquisition of Warner Bros. Discovery, clearing the way for a merger that will unite two historic Hollywood studios and reshape the American entertainment industry.

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In a statement, the department said it determined that the massive merger was “not likely to result in harm to competition or American consumers.”

The Justice Department said it reached that conclusion after receiving extensive feedback.