Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery.
Supported Covington & Burling, Fried Frank, and O’Melveny & Myers
United States
Counsel for Warner Bros. Discovery retained Kostis Hatzitaskos of Cornerstone Research to evaluate competitive effects of potential mergers with Netflix and Paramount Skydance. Dr. Hatzitaskos and the Cornerstone Research team assisted with U.S. regulatory reviews, the second request issued by the U.S. Department of Justice (DOJ), and the litigation with California and other state attorneys general (State AGs). In June 2026, the DOJ cleared the merger of Paramount Skydance and Warner Bros. Discovery. In September 2026, the merging parties settled the litigation with the state AGs. The merger closed in October 2026.
Europe and Other Jurisdictions
Gregor Langus and Andrew Swan of Cornerstone Research supported Warner Bros. Discovery through the merger review processes outside the United States, including review of the potential transactions with Netflix and then Paramount Skydance. In addition to the United Kingdom and the European Union, the Cornerstone Research team assisted with regulatory submissions and requests for information (RFI) in more than fifteen jurisdictions globally. The merger received clearance in all jurisdictions.
Chicago
