Axios

The Justice Department has approved Paramount Skydance's $110 billion takeover of Warner Bros. Discovery, as expected.

Why it matters: It's a major win for Paramount, which still awaits approval from regulators in Europe.

Elon Musk's almost inconceivable fortune has expanded the Overton window of wealth.

Why it matters: Big, round numbers have a remarkable way of focusing minds and setting narratives.

• The first trillionaire — much less a trillionaire known for erratic personal behavior, online trolling and support for global right-wing politics — will likely reignite discussion of the diverging fortunes of wage earners and those with market-based wealth, as well as their growing political power.

The Washington National Opera sued the Kennedy Center on Thursday, alleging the center withheld $17 million in donations that belong to the opera company.

Why it matters: It's the latest controversy facing the performing arts center since President Trump took over as The Kennedy Center board chairman and began reshaping the institution.

A federal judge on Friday extended her block on President Trump's nearly $1.8 billion anti-weaponization fund but signaled she'd let the case go if administration officials swore under penalty of perjury that the plan was dead.

Why it matters: While the DOJ has said the fund, which faced legal challenges and bipartisan blowback, is not moving forward and argued the challenge is moot, the president has maintained that it's "a great idea."

The Trump administration released a sweeping cache of government records and videos Friday that include colorful UFO-like orbs flying across the sky in seemingly impossible ways.

Why it matters: The disclosure is part of a wave of releases aimed at shedding light on the U.S. government's examination of such sightings, which have been the subject of many conspiracy theories.

Oil prices have defied predictions of even bigger increases than we've seen — but the markets' shock absorbers could easily wear out later this summer unless the Strait of Hormuz opens soon, analysts warn.

Why it matters: If the stockpiles run too low and oil prices surge, prices at the pump — which have been falling lately — could spike again as the midterm elections approach.

Dana White likes to say he sells "holy sh*t moments for a living."

• Sunday night, the UFC CEO will attempt his magnum opus on the biggest stage in combat sports history.

Why it matters: The UFC and President Trump have forged one of the most successful cultural alliances in modern politics, carrying mixed martial arts (MMA) from the fringe of American sports to a starring role in the country's 250th anniversary.

U.S. health officials are deploying emergency measures against New World screwworm while monitoring other infectious disease risks ahead of the World Cup and America250 celebrations.

Why it matters: Health experts warn existing and proposed federal funding cuts could weaken disease surveillance and outbreak response ahead of major U.S. events.

The Kennedy Center plans to appeal a judge's order requiring President Trump's name to be removed from the performing arts center, according to multiple reports.

Why it matters: An appeal could extend the controversy over Trump's name and the future of the famed center.

The political arm of the Congressional Hispanic Caucus is quietly putting massive sums into helping the group's chair, Rep. Adriano Espaillat (D-N.Y.), win his primary, Axios has learned.

Why it matters: The spending signals how much peril Espaillat's allies think he is facing from democratic socialist challenger Darializa Avila Chevalier.