US sends subpoenas in Warner-Paramount antitrust review as probe picks up steam

The U.S. Department of Justice has sent subpoenas in its investigation of Paramount Skydance’s acquisition of Warner Bros Discovery, three sources familiar with the matter told Reuters.

The inquiries show the DOJ moving ahead with its probe into the $110 billion acquisition that would combine the two major studios, ‌along with ⁠the companies’ ⁠streaming platforms and news operations. Hollywood and Wall Street are intensely interested in the deal, which could shrink jobs if it succeeds but cost Paramount $7 billion if it is blocked.