MINT·2026-02-07 10:15Core Viewpoint - Paramount Skydance Corp. is actively seeking to complete the Justice Department's antitrust review of its tender offer for Warner Bros. Discovery Inc. shares in the coming weeks, as it aims to counter Netflix's planned acquisition of Warner Bros. studios and streaming businesses [1][3]. Group 1: Regulatory Review and Approval - Paramount is providing requested information to the Justice Department, which will require a 10-day waiting period to determine if it will challenge Paramount's proposal due to competition concerns [2]. - The Justice Department is thoroughly examining the offers from both Netflix and Paramount, with federal officials reaching out to major Hollywood constituencies for information [6]. - A Justice Department approval does not guarantee that Paramount is clear of regulatory hurdles, as any changes to key terms of the proposal may require resubmission for review [7]. Group 2: Competitive Landscape - Warner Bros. agreed to sell its studios and streaming divisions to Netflix for $82.7 billion, favoring this deal over Paramount's competing bid [4]. - Paramount has resisted increasing its $108 billion bid for Warner Bros., asserting that its offer is superior and more likely to gain regulatory approval [8]. - Warner Bros. and Netflix express confidence in securing approval for their deal, while also acknowledging that the Justice Department's review is expected to extend into later this year [9]. Group 3: Strategic Implications - Securing early regulatory approval is crucial for Paramount to persuade Warner Bros. shareholders to vote against the Netflix deal [3]. - Paramount's strategy includes appealing directly to shareholders and lobbying regulators to bypass the Netflix deal [4]. - A spokesperson for Netflix indicated that the company expects Paramount to declare compliance with federal regulations, emphasizing the value of the Netflix and Warner Bros. partnership [5].