India, March 29 -- The U.S. Department of Justice has sent subpoenas in its investigation of Paramount Skydance's acquisition of Warner Bros Discovery, three sources familiar with the matter told press.

The inquiries show the DOJ moving ahead with its probe into the $410 billion acquisition that would combine the two major studios, along with the companies' streaming services and news operations. Hollywood and Wall Street are intensely interested in the high-stakes deal, which would bring together some of the entertainment industry's most enduring franchises but deal a blow to film and television jobs.

The DOJ is seeking information on how the deal would affect studio output, content rights and competition among streaming services, the ...