The US Justice Department's Antitrust Division said it has cleared Paramount Skydance Corp's planned USD 110 billion acquisition of Warner Bros. Discovery, saying it was unlikely to harm competition or consumers.DOJ said it spent eight months evaluating how the transaction would affect streaming video services, traditional television and the film industry, weighing input from across the entertainment industry."The extensive investigatory record reviewed by the Division suggests that the impact of the transaction will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers," the Justice Department wrote in a statement released on Friday.advertisementRead…