DOJ clears path for Paramount’s $110 billion acquisition of WBD

The approval marks a significant victory for Paramount CEO David Ellison, who previously informed investors that the transaction remains on schedule for a September closing. Missing that deadline would trigger a costly "ticking fee" for the acquiring entity. Paramount shares gained 4% in after-hours trading following the reports of the DOJ’s decision.

Despite the federal clearance, the path to finalization is not entirely clear. California Attorney General Rob Bonta remains among the state-level officials scrutinizing the terms of the acquisition. Beyond domestic challenges, Paramount is awaiting a verdict from the European Union, which has set a July 14 deadline for its own antitrust review. The deal, which includes major assets such as CNN, TBS, and the Warner Bros. film studio, has already cleared the Australian Competition and Consumer Commission and secured support from WBD shareholders.