Paramount Global’s proposed $110 billion acquisition of Warner Bros Discovery is expected to receive approval from the U.S. Federal Communications Commission (FCC), according to reports by the Financial Times cited by Reuters. The merger, which would combine two of the largest studios in Hollywood, has been under intense regulatory scrutiny over concerns about competition in broadcasting, cable, and streaming markets.
FCC backing would mark a major milestone in the approval process, which also requires clearance from the U.S. Department of Justice and other federal regulators. The agencies are evaluating potential impacts on media diversity, consumer choice, and market competition, particularly in the rapidly evolving streaming sector. Paramount and Warner Bros Discovery have maintained that the merger is necessary to compete effectively with tech giants dominating video streaming and advertising.
Industry analysts say the deal reflects broader consolidation trends in traditional media as rising content costs and changing viewer habits pressure legacy studios. If approved, the merger would unite major broadcast networks, film franchises, and streaming platforms under a single corporate umbrella, fundamentally reshaping the U.S. media landscape.