The United States Department of Justice found no legal problems in the Warner Bros. acquisition process. Discovery by Paramount, giving its approval for the companies to move forward with the plans. The agreement will reach a total value of US$110 billion, if it is not hampered by future obstacles that it will still need to face.
No significant concessions were required by Paramount to receive approval, the website reports. Deadline. “We are grateful for the Department of Justice’s thorough review of this transaction, as well as the work of other agencies that have completed their reviews and provided clearance to date,” a company representative told the website.
Apparently, the purchase of Warner Bros. proceeds to a rapid completion, even more accelerated than usual for acquisitions of this magnitude. For this reason, political questions are raised about its approval.
David Ellison, CEO of Paramount, is a close friend of Donald Trump, current president of the United States for the Republican party. Thus, the Democratic party has openly opposed the acquisition of Warner Bros. Discovery by the company.
Senator Elizabeth Warren, one of the Democrats’ best-known voices, responded to the Justice Department’s approval on social media, declaring that “the deal between Paramount and Warner Bros. reeks of corruption and influence peddling.”
Acquisition of Warner Bros. will still face more regulatory bodies
Warren calls on state attorneys general across the country to block the takeover. Furthermore, both the UK and Europe are also carrying out their independent investigations into the deal, through their CMA and European Commission agencies.
As usual in the case of these authorities, the concern is the reduction of competitiveness in the market and the practice of monopoly.
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In any case, Paramount is so sure it will complete the purchase of Warner Bros. Discovery that set September 30th as a target. Part of the agreement provides for the payment of millions of dollars to investors for each day that passes without the process being completed.
Source: www.adrenaline.com.br
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