The Paramount Question Isn’t Paramount

Alden Abbott April 13, 2026

Truth on the Market View Original Source

• 
  Back
  to Top

Big mergers make headlines. They don’t always make antitrust problems.

In a previous commentary, I explored the antitrust implications of a potential acquisition of Warner Bros. Discovery (WBD). That uncertainty is now resolved. On Feb. 27, Paramount Skydance Corp. agreed to acquire WBD for roughly $110 billion in enterprise value—$31 per share, all cash.

The merger has already drawn concern from politicians and regulators (see here and here). But antitrust analysis does not turn on headline valuations or deal size. The relevant question is whether the transaction is likely to harm competition in a meaningful way. On that score, the evidence points in the opposite direction.

Read the full piece here.