The US Department of Justice has cleared Paramount's $110 billion acquisition of Warner Bros. Discovery, finding it unlikely to harm competition or consumers.
The DOJ spent eight months evaluating the deal's impact on streaming video services, traditional television, and the film industry.
Paramount has issued a statement thanking the DOJ and remains focused on completing the transaction as soon as possible.
However, concerns remain about foreign funds taking part in the deal, with Democratic senators raising concerns about Middle Eastern sovereign wealth funds and Chinese companies.
The Federal Communications Commission has not yet approved a petition seeking approval for foreign interests to own up to 100% of the debt in the proposed deal.
The DOJ has dismissed concerns that the deal will harm Hollywood or the theatrical business, concluding that a combined Paramount and HBO Max would create a stronger alternative to larger streaming services.
However, several in Hollywood have expressed concern that the merger would result in fewer jobs and less diversity of storytelling.
