Paramount-WBD merger clears final DOJ hurdle, set to close by June

The Paramount-Warner Bros. Discovery merger cleared its final major regulatory hurdle on Saturday after the US Department of Justice gave its unconditional approval, paving the way for the $19 billion deal to close within weeks.

The DOJ’s green light, confirmed in multiple filings on 14 June 2026, removes the last legal obstacle standing between the two media giants. Regulators had scrutinised the merger for more than a year over concerns about reduced competition in streaming and film distribution, but the department concluded that the combination would not substantially lessen competition in any market . “After careful review, we determined that the proposed transaction is not likely to harm competition,” a DOJ spokesperson said in a statement carried by New Kerala .

Warner Bros. Discovery and Paramount Global now expect to finalise the merger before the end of June, subject only to customary closing conditions and shareholder approvals already secured in May. The combined entity, to be named Paramount-WBD, will control a vast library of films, television series and franchises including *Star Trek*, *South Park*, *Mission: Impossible* and *SpongeBob SquarePants*, alongside CNN, CBS and the CW network.

Industry analysts anticipate immediate cost savings of $2.5 billion annually once integration is complete, with the new group aiming to streamline overlapping operations in streaming, advertising sales and studio production. “This merger creates a true global content powerhouse,” said media analyst Laura Martin of LightShed Partners. “The DOJ’s decision validates the strategic logic of combining two of the last independent Hollywood majors.”

The approval arrives amid a broader wave of consolidation in global media, with regulators in Brussels and Washington taking increasingly divergent approaches. While the DOJ opted for a swift clearance, European antitrust officials are still reviewing the deal’s impact on advertising markets, with a decision expected by late July. The Federal Communications Commission, which had previously conditioned its approval on divestitures, confirmed on Friday that those remedies had been satisfied.

Shareholders of both companies are scheduled to vote on the merger’s final terms on 20 June 2026, though market observers expect overwhelming support after the DOJ’s decision. Shares of Warner Bros. Discovery rose 3.2% in pre-market trading on Sunday, while Paramount Global’s American depositary receipts gained 2.8%.