Insights: M&A

Mergers & Acquisitions

Paramount/Warner Brothers – Foreign Antitrust Review Analysis

Paramount has confirmed that it has been in pre-notification discussions with the EC since Paramount launched its tender offer for Warner Bros. in early-December 2025. Reuters also recently reported that the EC is unlikely to initiate a Phase 2 and that any divestitures are expected to be minor.

Mergers & Acquisitions

Paramount/Warner Bros.

The Capitol Forum reported last week that a group of state attorney generals are preparing to challenge Paramount’s acquisition of Warner Bros. on antitrust grounds. A lawsuit is not imminent, and the DOJ is not expected to join the suit. California attorney general Rob Bonta has also stated that the proposed merger "must receive a full and...

Mergers & Acquisitions

Texas Instruments/Silicon Labs

The parties are set to file HSR by March 19. Our research to date suggests that the proposed transaction is likely to avoid a second request from the FTC. Feedback from industry participants (who are not involved in the deal) suggests that the key area of overlap between Texas Instruments and Silicon Labs is Internet of Things (IoT) chips for...

Mergers & Acquisitions

DOJ Antitrust Leadership

In the wake of Assistant Attorney General Gail Slater, head of the DOJ’s Antitrust Division resigning, Omeed Assefi, previously Acting Assistant Attorney General before Slater’s confirmation, will serve as head of the Antitrust Division on an interim basis.

Mergers & Acquisitions

FCC National Ownership Cap

The Senate Commerce Committee held a hearing this week on the FCC’s Broadcast Ownership Rules and the 39% national TV ownership cap. Sen. Cruz (R-TX), who as Chair of the Commerce Committee, has jurisdiction over the FCC, expressed reservations about the FCC changing the cap via regulation. This comes in the context of FCC Chair Carr and...

Mergers & Acquisitions

Last weekend, President Trump and FCC Chair Brendan Carr publicly endorsed the Nexstar/TEGNA merger. And during a Senate Commerce Committee hearing this week, Newsmax CEO Chris Ruddy remarked that he had been told that the FCC was “racing to approve” the proposed merger and would approve the merger at the Media Bureau level.