Paramount Gets Justice Dept. Approval to Buy Warner Bros.

“Good” news, everyone: the Department of Justice has said it’s a-OK for Paramount to continue with the Warner Bros. merger! On Friday, the department gave a thumbs up to the $110 billion acquisition that’s been in the works since earlier this year. According to the antitrust division’s reasoning is that TV and movie businesses are “not likely” to be harmed by this, and the same goes for American consumers. The agency’s statement runs counter to what many in the entertainment industry—and anyone who knows how mergers work—have been saying, and since there’s no concessions to be made, Paramount’s a little more free to have a monopoly on Hollywood. (Remember when the Department feared Netflix would do this if it got WB?) In a statement, Paramount thanked the DOJ for its decision, reiterating that the deal was “pro-competitive, resulting in a stronger company better positioned to compete against dominant technology platforms. […] We remain focused on completing the transaction as soon as possible and delivering its benefits to consumers, creators and the entertainment industry as a whole.” Now, California and New York are looking to sue on antitrust grounds to block the merger. Oversea