DOJ Nod Pushes Paramount’s Merger Closer, But Hurdles Remain

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(SeaPRwire) –   By: Christian Pierce
Paramount’s stock popped after the DOJ cleared its $110B Warner Bros. deal. DOJ said no antitrust worries. PSKY closed at $10.47, then jumped in after-hours. Paramount calls the deal pro-competitive. But the merger still faces CA AG review and EU scrutiny. CA’s review continues. EU has a July 14 deadline. Australia okayed it. Hollywood folks opposed, fearing job cuts. Merged firm would be huge media player. Paramount adds big names like CNN, HBO. Original deal vs Netflix, then Paramount upped bid. Cost savings a key reason. DOJ’s green light helps, but gates in CA and EU stay.