** Paramount Skydance Corp's PSKY.O shares rise 4.3% to $10.9 premarket

** U.S. Justice Department clears PSKY's $110 billion acquisition of Warner Bros Discovery WBD.O, saying it is unlikely to harm competition or consumers

** DOJ says deal would boost competition across streaming, TV and film, after an eight‑month probe reviewing over 2 mln documents

** Paramount says transaction will help it compete for audiences, talent, technology and investment in a crowded media landscape

** FCC approval pending, including review of foreign investment participation in the deal

** PSKY down nearly 22% YTD