Today's Business Headlines: 03/26/26
The Justice Department has sent subpoenas in its investigation of Paramount Skydance’s acquisition of Warner Bros Discovery , three sources familiar with the matter told Reuters.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.
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.The DOJ is also asking how the acquisition could affect movie theaters, two of the sources said. Acting Assistant Attorney General Omeed Assefi told Reuters in an interview last week that Paramount will “absolutely not” have a fast track to approval because of political factors.CNN boss Mark Thompson addresses his future in tense exchange with staffers over Paramount deal: report Stephen A. Smith goes scorched earth on progressives — tells them to ‘shut the hell up’ over voter ID laws Paramount has been expecting authorities in many places to review the deal, Chief Legal Officer Makan Delrahim said at an antitrust conference in Washington on Wednesday. Representatives of the DOJ, Paramount and Warner Bros did not immediately respond to requests for comment. The European Commission is actively engaging with third parties on the deal, two sources said. Canada has also reached out to at least one company about the deal, one of the sources said.The California Attorney General’s office has also been eager to speak with third parties, the other two sources said. and has bet on closing the deal quickly, promising to pay Warner Bros shareholders a 25-cent-per-share quarterly “ticking fee” starting in October if the deal has not closed.One concern in the US is whether the merger would limit the number of buyers for films and shows. Paramount sees $6 billion in cost “synergies” in the deal, which is often code for massive layoffs. Paramount has said it expects the majority of those savings to come from streamlining technology and real estate, and other “corporate-wide efficiencies.”The DOJ has reached out to independent production companies asking about the proposed deal’s impact on competition, according to one industry veteran who requested anonymity because of the sensitivity of the issue. The Teamsters union has expressed concern that the proposed merger “poses a direct threat” to employment, and urged the DOJ to block the deal unless enforceable safeguards are put in place to protect jobs and output. Such safeguards have been negotiated before. After its unsuccessful attempt to block the merger between T-Mobile and Sprint, California secured an agreement that the merged company would maintain its California headcount for three years. The organization representing theater owners also issued a statement in late February, noting that studio consolidation has historically led to the production of fewer movies. “At this juncture, there is no reason to believe the outcome here will be any different,” said Cinema United President Michael O’Leary. “We continue to urge regulators to heed the lessons of the past.”Gang-rape victim Noelia Castillo, who died of euthanasia, had heartbreaking final words for family before she diedSee All 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.Stream It Or Skip It: 'Jo Nesbø's Detective Hole' On Netflix, Where A Troubled Detective Tracks Down A Serial Killer Who Is Terrorizing Oslo
Business Justice Department Mergers & Acquisitions Paramount Probes Subpoenas Warner Bros Discovery
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Warner Bros. Discovery Sets April 23 Vote on Paramount Mega DealParamount is offering $31 per share, with a 'ticking fee' kicking in if the deal doesn't close by the end of September.
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Los Angeles County board votes to analyze Paramount and Warner Bros. Discovery merger's job impactLos Angeles County Board of Supervisors voted to commission an analysis on the Paramount-Warner Bros. Discovery merger's effect on the entertainment industry.
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Epstein's Lawyer and Accountant Claim Ignorance of Crimes, Fueling Questions on DOJ ProbeJeffrey Epstein's lawyer and accountant testified to the House Oversight Committee, stating they were unaware of his sex trafficking crimes despite working closely with him for years. Their claims raise concerns about the depth of the Justice Department's investigation and the extent of Epstein's network.
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DOJ launches probe into ‘biological males’ housed in California women’s prisonsThe federal government is challenging the constitutionality of housing “biological men” in women’s prisons, including the facility in Chino.
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Netflix celebrates its recent $2.8 billion failure prize by raising prices… againWho needs Warner Bros. Discovery when you can just jack the price for an ad-free plan up to 20 bucks a month?
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Jane Fonda and Elizabeth Warren Criticize Paramount-Skydance-Warner Bros. Discovery MergerActress Jane Fonda and Senator Elizabeth Warren released a video criticizing the proposed merger between Paramount Skydance and Warner Bros. Discovery, expressing concerns about potential negative impacts on consumers, production decisions, and potential political influence.
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