All articles tagged with #doj antitrust
Paramount Skydance's top lawyer claims Netflix is waging a 'panic-level' scorched-earth campaign to persuade regulators against Paramount's Warner Bros. Discovery merger; Netflix calls the charges absurd as DOJ antitrust scrutiny and labor concerns from the Teamsters remain in play.
Paramount sent a DOJ letter accusing Netflix of a scorched‑earth campaign to derail Warner Bros. Discovery’s merger; Netflix disputes the claim, saying it walked away months ago and regulators will decide the deal. With UK and EU reviews underway, Paramount argues the tie‑up would boost content production and competition, outlining about $6 billion in synergies and pledging higher content spend after closing.
Warner Bros. Discovery has scheduled a special meeting for April 23, 2026 at 10 a.m. ET for shareholders to vote on the $111 billion Paramount Skydance merger, which the WBD board unanimously supports. The deal would place Paramount Skydance in control of WBD’s assets (including HBO/Max, Warner Bros., DC, etc.) and is expected to close in Q3 2026, subject to regulatory approvals, including DOJ clearance. Shareholders of record as of March 20, 2026 are eligible to vote after WBD began mailing the proxy statement. If the deal isn’t closed by Sept. 30, 2026, a ticking fee of $0.25 per share per quarter applies, potentially adding hundreds of millions to the price.
International Brotherhood of Teamsters leaders asked the DOJ’s Antitrust Division to halt Paramount’s $111 billion merger with Warner Bros. unless enforceable protections for domestic production and labor standards are secured. Teamsters general president Sean O’Brien and motion picture chief Lindsay Dougherty argued consolidation risks jobs and local production, echoing concerns raised by the Writers Guild as the deal faces opposition from unions even as Paramount downplays likely layoffs.
DOJ settlement with Live Nation leads to release of 2022 Slack direct messages in which two executives joke about overcharging fans and price-gouging for tickets and ancillary services; Live Nation says the chats don’t reflect company policy. The agreement imposes caps on service fees (15%), limits exclusivity to four years, divestitures at 13 venues, and a nearly $300 million payout to states, while some attorneys general push to continue the case.
Netflix co-CEO Ted Sarandos said the bid to buy Warner Bros. Discovery is a business deal, not politics, in response to Donald Trump’s call to remove Susan Rice from Netflix’s board; the deal requires DOJ and global regulator approvals amid competition with Paramount.
Paramount Skydance is expected to boost its offer for Warner Bros. Discovery to around $32 per share, aiming to outpace Netflix in the ongoing bidding war. Netflix has the option to match higher bids and has signaled it could walk away if Paramount’s offer becomes too aggressive. A revised bid could trigger a $2.8 billion breakup fee to Netflix if Warner Bros. Discovery accepts it. The parties face a seven‑day window for improved proposals culminating in a potential four‑day response period from Netflix, with a March 20 shareholder vote on the Netflix deal and ongoing antitrust scrutiny from the DOJ.
Live Nation posted 2025 revenue of $25.2 billion and a more than 50% jump in operating profit, driven by high live-music demand and big tours (e.g., Bruno Mars, Harry Styles), with 159 million fans attending last year. Early 2026 ticket sales are robust (about 67 million), signaling another year of double-digit operating income, even as the company faces a US Department of Justice monopoly lawsuit that could reshape the live-music industry amid ongoing scrutiny of high fees.
Paramount Skydance touts a DOJ antitrust milestone for its potential purchase of Warner Bros. Discovery, stating the Hart-Scott-Rodino waiting period has expired and the review is cleared. However, Paramount has no merger agreement with WBD, WBD remains tied to its Netflix deal, and regulatory approvals plus shareholder consent—not just HSR clearance—are still required. Netflix cautions that routine HSR milestones do not equal DOJ approval, while lawmakers have pressed Paramount for records related to the talks.