Federal Communications Commission chair Brendan Carr signaled that the regulator is unlikely to block Paramount Skydance’s (PSKY) $110 billion purchase of Warner Bros. Discovery (WBD).
Carr said there were “concerns raised in Washington about the concentration of power” from a Netflix (NFLX) purchase of Warner Bros., though he added that “obviously the level of market share and issue with a Paramount purchase is drastically different,” Carr told the Financial Times in an interview on Monday.
Carr said the majority of the regulatory review of the combination will be done by the U.S. Department of Justice.
“All the information that I’ve seen about that foreign debt . . . is that would qualify under FCC rules as what we call bona fide debt, meaning, it would be a very quick, almost pro forma review,” Carr told the FT.