DOJ Digs In on the Dueling Takeover Bids for Warner Bros.

The heated battle to acquire Warner Bros. Discovery Inc. has expanded from the boardroom to the US Justice Department, with the disclosure Wednesday that the agency is conducting an in-depth review of Paramount Skydance Corp.’s hostile tender offer for the company behind HBO and the Harry Potter and Batman franchises.

Warner Bros. said in a regulatory filing that the Justice Department opened up the review on December 23. Netflix Inc., which signed an $82.7 billion deal with Warner Bros. last month, also said Wednesday that it’s engaging with antitrust authorities, including the DOJ and the European Commission.