The goal of Paramount Skydance Corp.'s tender offer for Warner Bros. is to complete an antitrust investigation by the Justice Department. shares of Discovery Inc. in the upcoming weeks.

According to Bloomberg, which cited people with knowledge of the situation, the corporation has been providing the government with requested material.

Following submission, there will be a 10-day waiting period during which the Justice Department will decide whether to contest Paramount's offer on the grounds of competition.

One of the main components of Paramount's plan to stop Netflix Inc. from acquiring Warner Bros.' studios and streaming businesses is securing early regulatory approval.

By demonstrating that it has overcome a significant regulatory obstacle, Paramount hopes to persuade Warner Bros. stockholders to turn down the Netflix offer.

Warner Bros. accepted Netflix's $82.7 billion offer to buy its studios and streaming businesses in December, beating off a rival offer from Paramount. While Paramount has been attempting to get around the agreement by contacting shareholders directly and lobbying regulators, Warner Bros. intends to seek shareholder approval for the merger by April.

The possibility that the Justice Department may file a lawsuit to stop the Netflix transaction could increase Paramount's chances of purchasing Warner Bros. without having to increase its all-cash offer of $30 per share.

According to a Netflix representative, the business anticipates that Paramount will "self-declare" that it complies with federal regulations.

The representative was cited as adding, "We are still focused on the value that Netflix and Warner Bros. can create together."