Justice Dept. approves Paramount's acquisition of Warner Bros. Discovery

The main gate to Paramount Studios is seen on Melrose Avenue, July 8, 2015, in Los Angeles. Nick Ut/AP hide caption

The Justice Department has closed its antitrust investigation into the proposed $110 billion merger of Paramount and Warner Brothers Discovery, saying that it has found no threat to competition or consumers of film, broadcast television or streaming.

The decision paves the way for a merger of two historic studio rivals — Paramount, owner of CBS, and the much larger Warner, which includes HBO and CNN.

Several states, including California, have raised antitrust concerns. The European Union is investigating as well.