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DOJ clears Paramount Skydance acquisition of Warner Bros. Discovery
LightShed partner Rich Greenfield analyzes the Paramount Skydance-Warner Bros deal on ‘The Claman Countdown.’
The Justice Department (DOJ) on Friday announced it has closed its antitrust investigation into Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, concluding the transaction is not likely to harm competition or American consumers.
The Antitrust Division said its eight-month review examined more than two million documents and found the deal could strengthen competition across the media and entertainment industry, including in streaming video, traditional television and theatrical film distribution.
“The extensive investigatory record reviewed by the Division suggests that the impact of the transaction will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers,” the department said.
The DOJ said the combined company would continue competing against larger streaming rivals including Netflix, Amazon and Disney and found no evidence the transaction would likely reduce consumer choice.
WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEAL
The merger was approved by the Department of Justice on Friday. (Eric Thayer/Bloomberg via Getty Images)
The department also disclosed that regulators reviewed a separate proposal involving Netflix before Paramount reached a definitive agreement with Warner Bros. Discovery.
According to the DOJ, evaluating both proposals provided investigators with competing perspectives on the future of the media industry.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PSKY | PARAMOUNT SKYDANCE CORP. | 10.47 | -0.02 | -0.19% |
| WBD | DISCOVERY INC. | 26.98 | +0.12 | +0.45% |
| NFLX | NETFLIX INC. | 80.34 | -0.93 | -1.14% |
The decision drew criticism from Sen. Elizabeth Warren, D-Mass., who urged state attorneys general to continue fighting the transaction.
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“This is terrible news for every American who doesn’t want Trump-aligned billionaires to control what they watch and how much they pay,” Warren wrote on X.
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Netflix agreed last year to acquire Warner Bros. Discovery’s film and television studios and streaming platform, HBO Max, in a cash-and-stock deal valued at $27.75 per Warner Bros. Discovery share. (Anna Barclay/Getty Images / Getty Images)
Warren also alleged the merger “reeked of corruption and influence-peddling” and called on state officials to block the deal.
State attorneys general retain independent authority under antitrust laws, and the DOJ’s decision does not itself prevent additional legal challenges to the proposed transaction.
The merger still faces several hurdles to reach completion. (Mario Tama/Getty Images / Getty Images)
The merger still faces several steps before completion.
Paramount announced Friday that it had extended debt exchange and tender offers connected to Warner Bros.
Discovery and said it expects those offers to remain aligned with the anticipated closing timetable. The company also cautioned that the acquisition remains subject to closing conditions and other risks.
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Meta CEO Mark Zuckerberg acknowledged Friday that the company has “made mistakes” as it undergoes a sweeping workforce overhaul tied to its aggressive push into artificial intelligence (AI).
Zuckerberg made the remarks in an internal memo to employees, according to Reuters, which reported that the Meta chief warned of challenges associated with the rapid development of AI technology.
Meta has poured billions of dollars into AI infrastructure and tools as it competes with OpenAI, Google and Microsoft for dominance in the emerging technology.
The company has also explored ways to use AI agents to perform tasks currently handled by employees.
Meta CEO Mark Zuckerberg said the company has “made mistakes” as it restructures its workforce around artificial intelligence. (Alex Wong/Getty Images / Getty Images)
“Given the complexity of these changes, we’ve made mistakes and will almost certainly make more,” Zuckerberg said.
He added that he is “focused on providing as much stability as possible” as the company continues to reshape its workforce.
“I don’t want to overpromise because the world is changing in ways that are out of our control,” Zuckerberg said.
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Meta has invested billions of dollars in artificial intelligence as it seeks to compete with OpenAI, Google and Microsoft. (Getty Images / Getty Images)
He also reiterated that Meta does not expect any additional company-wide layoffs this year.
The comments come after Meta laid off roughly 10% of its global workforce in May and reassigned approximately 7,000 employees to AI-focused initiatives.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| META | META PLATFORMS INC. | 566.98 | -1.45 | -0.26% |
Zuckerberg reportedly said the company will attempt to find new positions for employees reassigned to train AI models.
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Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during a dinner with tech leaders in the State Dining Room of the White House in Washington, D.C., Sept. 4, 2025. (Will Oliver/EPA/Bloomberg/Getty Images, File / Getty Images)
“By creating important new roles for people, this also allowed us to shrink the size of teams knowing that if we make mistakes in some places, then we could transfer some people back,” Zuckerberg said.
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According to Reuters, the restructuring — combined with previous transfers and role eliminations — is expected to ultimately affect about 20% of Meta’s workforce.
Meta employed nearly 78,000 people as of the end of March, according to company securities filings.
FOX Business has reached out to Meta for comment.
FOX Business’ Bradford Betz and Reuters contributed to this report.
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Thousands of cases of a frozen pizza snack sold in 21 states are being recalled because they may contain metal pieces.
Rich Products Corp. voluntarily issued the recall of 6,408 cases or more than 160,000 pounds of its Farm Rich Pizza Cheese Crunchers, according to the U.S. Food and Drug Administration.
The pizza was sold in Alabama, Arkansas, California, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin.
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Thousands of cases of a frozen pizza snack sold in 21 states are being recalled because it may contain metal pieces. (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)
The recall was initiated by the New York-based company on May 19.
The product has a best-by date of July 7, 2027, with a UPC code of 041322652256 and a lot number of 003029976.
MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES.
The FDA classified the recall as a Class II health risk, which means the defect could cause temporary or medically reversible health problems.
The agency didn’t specify if any injuries had been reported or how the possible contamination was discovered.
Rich Products Corp. voluntarily issued the recall of 6,408 cases or more than 160,000 pounds of its Farm Rich Pizza Cheese Crunchers, according to the U.S. Food and Drug Administration. (farmrich.com / Unknown)
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The recall comes weeks after another frozen pizza recall over salmonella concerns.
WHITE OAK, MD – JULY 20: A sign for the Food And Drug Administration is seen outside of the headquarters on July 20, 2020, in White Oak, Maryland. ((Photo by Sarah Silbiger/Getty Images) / AP Newsroom)
The pizzas, which spanned several brands, had been sold at Walmart and Aldi.
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