The United States Department of Justice has approved the acquisition of Warner Bros. Discovery by Paramount Skydance, although the transaction remains subject to state-level scrutiny and international regulatory review.

美國司法部已批准 Paramount Skydance 收購 Warner Bros. Discovery，儘管該交易仍須經過州級審查及國際監管機構的審核。

The Department of Justice concluded an eight-month investigation, during which over two million documents were analyzed, determining that the approximately $110-111 billion merger is unlikely to impede competition or adversely affect consumers within the streaming, linear television, and studio production sectors. The Department asserted that the consolidation would likely enhance competition across the media ecosystem. Conversely, California Attorney General Rob Bonta has indicated that the transaction remains under investigation by his office. Bonta has posited that further market consolidation may result in diminished consumer choice, reduced employment opportunities, and increased costs. Should the California office determine that the merger violates antitrust statutes, it may seek judicial intervention to block the acquisition or mandate specific remedies. There are indications of potential coordination among multiple states to initiate a joint legal challenge.

司法部完成了一項為期八個月的調查，期間分析了超過兩百萬份文件，判定這宗金額約 1,100 億至 1,110 億美元的合併不太可能阻礙競爭，或對串流媒體、線性電視及製片公司領域的消費者產生不利影響。司法部主張，此次整合可能會提升整個媒體生態系統的競爭力。相反地，加州總檢察師 Rob Bonta 表示，其辦公室仍對該交易進行調查。Bonta 認為，進一步的市場整合可能會導致消費者選擇減少、就業機會降低以及成本增加。若加州辦公室判定該合併違反反壟斷法，可能會尋求司法干預以阻止收購或強制要求特定補救措施。有跡象顯示，多個州可能會協調行動，發起共同的法律挑戰。

Stakeholder concerns center on the concentration of market power and potential editorial influence. Critics within the entertainment industry argue that the merger exacerbates the dominance of a few conglomerates. Furthermore, observers have noted the professional and personal affiliations between Paramount Skydance leadership—specifically David and Larry Ellison—and the administration of President Donald Trump. Concerns have been raised regarding the potential for consolidated control over news entities, as the merger would place CNN and CBS under a single corporate umbrella. Historically, the transaction followed a period of competitive bidding involving Netflix, which ultimately withdrew its $72 billion proposal in February.

利益相關者的擔憂集中於市場權力的集中以及潛在的編輯影響力。娛樂業內的批評者認為，此次合併加劇了少數集團的主導地位。此外，觀察人士注意到 Paramount Skydance 的領導層——特別是 David 和 Larry Ellison——與總統川普政府之間存在專業與私人關係。由於合併將使 CNN 與 CBS 處於單一企業體系下，對於新聞實體被集中控制的可能性引起了關注。從歷史來看，該交易是在一段競爭激烈的競標期後達成，其中包含 Netflix，但 Netflix 最終在二月撤回了 720 億美元的提案。

While federal approval has been granted, the merger's finalization depends on pending decisions from the European Commission and United Kingdom regulators, as well as potential litigation from the state of California.

雖然已獲得聯邦批准，但合併能否最終完成，仍取決於歐盟委員會與英國監管機構的待定決定，以及加州可能發起的訴訟。