DOJ subpoenas merger probe
The U.S. Department of Justice issued subpoenas in its probe of the proposed Paramount–Skydance–Warner tie‑up, signalling deeper antitrust scrutiny of a deal valued at roughly $111 billion — a move that could slow or reshape consolidation plans and due‑diligence timelines for studios and financiers. (pymnts.com)
Reuters reporting says Justice Department investigators have focused requests on how the transaction would affect studio output, content rights and competition among streaming services. (cnbc.com) Warner Bros. Discovery has set a special shareholder meeting for April 23, 2026 to vote on the merger agreement with Paramount Skydance. (variety.com) Paramount’s Feb. 27 press release values the transaction at an enterprise value of about $110 billion and commits the combined company to produce a minimum of 30 theatrical films annually. (paramount.com) Major outlets have widely reported the purchase price as roughly $111 billion when debt is included, reflecting the all‑cash $31-per-share offer that closed the bidding war. (bloomberg.com) Paramount’s revised bid includes a $7 billion regulatory termination payment that would be payable if the deal is blocked by regulators, a provision analysts flagged as a hedge against antitrust risk. (hollywoodreporter.com) Coverage citing WBD staff and internal sources notes a $6 billion synergy target at the combined company and widespread employee concern about potential job cuts tied to consolidation. (cnbc.com) Los Angeles County supervisors have ordered an economic analysis of the proposed merger’s effects on the local entertainment workforce, adding a county-level review to the federal scrutiny. (msn.com)
