DOJ: Paramount-Skydance Warner Bros Buyout Not Fast-Tracked

0:00On March 18th, the head of the U.S. Department of Justice, Antitrust Division, says paramount and skydances proposed by-out of Warner Brothers' discovery would not get a fast-tracked to approval because of political factors. Acting Assistant Attorney General, Omed Asefi, made that clear in a writer's interview on Wednesday. He called claims that antitrust enforcement has been politicized completely ridiculous, but he wouldn't comment on any active investigations into the deal. Warner Brothers shares dipped a bit more on the news, ending the afternoon down 0.7 percent, while Paramount shares narrowed their losses too. Down 1.7 percent, analysts had thought Paramount might face fewer hurdles thanks to ties between Paramount's CEO David Ellison's father, Larry Ellison, and President Donald Trump. Netflix had a competing offer for Warner Brothers Studio and streaming assets, but the DOJ reviewed it and Netflix backed out, rather than match. Paramounts bid. Paramount argues its deal raises fewer competition concerns.

1:02Meanwhile, California's Attorney General is looking into the transaction too, so expect more scrutiny ahead as regulators weigh the full picture.