March 27 (Reuters) - 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 Reuters.

The inquiries show the DOJ moving ahead with its probe into the $110 billion acquisition that would combine the two major studios, along with the companies' streaming platforms and news operations. Hollywood and Wall Street are intensely interested in the deal, which could shrink jobs if it succeeds but cost Paramount $7 billion if it is blocked.

The DOJ is seeking information on how the deal would affect studio output, content rights and competition among streaming services, the sources said. The DOJ is also asking how the acquisition could affect movie theaters, two of the sources said.

A Justice Department spokesperson did not immediately respond to a request for comment.

Paramount has been expecting authorities in many places to review the deal, Chief Legal Officer Makan Delrahim said at an antitrust conference in Washington on Wednesday.