Paramount Says It Cleared DOJ Review For Warner Bros. Bid—But There’s A Long Way To Go

Forbes Business

by Antonio Pequeño IV, Forbes Staff

February 20, 2026

AI-Generated Deep Dive Summary

Paramount has announced that its proposed acquisition of Warner Bros. Discovery has cleared a significant hurdle with the Department of Justice (DOJ) antitrust review, but challenges remain. However, Netflix, which remains the leading suitor in the race to acquire Warner Bros. Discovery, has criticized Paramount for allegedly misleading shareholders and diverting attention from key facts. This back-and-forth highlights the ongoing competition between major entertainment players and raises questions about the implications of such mergers on market dynamics. The battle over Warner Bros. Discovery is a high-stakes affair, with Netflix positioning itself as the primary rival to Paramount's acquisition efforts. While Paramount claims its DOJ clearance marks progress, critics argue that antitrust reviews are just one piece of the puzzle. The merger could still face hurdles from other regulatory bodies and competing bidders, making the outcome uncertain. The situation underscores the complex nature of media mergers, where both financial stakes and consumer impacts are at play. This developments matter to business readers as they reflect broader trends in corporate competition and antitrust enforcement. The outcome of this acquisition saga could set a precedent for future mergers, influencing how regulators assess similar deals. Additionally, the clash between Netflix and Paramount illustrates the cutthroat nature of the entertainment industry, where stakes are high, and every move can reshape the market格局. As the process unfolds, the implications for business competition, innovation, and consumer choice will remain closely watched.

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Originally published on Forbes Business on 2/20/2026