EU Reviews $110 Billion Paramount-Warner Deal as 3 Gulf Funds Back $24 Billion

3 articles · Updated · NBC News · Jun 11

Sunday is the European Commission’s deadline to either clear Paramount Skydance’s $110 billion bid for Warner Bros. Discovery or open a full foreign-subsidies investigation.
The review centers on roughly $24 billion from three Middle Eastern sovereign wealth funds—Saudi Arabia’s PIF, Abu Dhabi’s L’IMAD Holding and the Qatar Investment Authority—disclosed in U.S. securities filings.
Paramount has said the combined company would remain under U.S. control through CEO David Ellison’s family and RedBird Capital, but the deal is already under separate scrutiny in California, the UK and by the U.S. Justice Department.
More than 1,000 actors, directors, producers and writers opposed the merger in April, arguing it would deepen media concentration as Paramount and Warner seek to combine two major studios, streaming platforms and TV networks.

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NBC News1d ago

European Commission Reviews Paramount-Warner Merger Over Middle Eastern Sovereign Wealth Fund Backing

Reuters1d ago

Paramount, Warner Bros deal under EU subsidy scrutiny, decision due July 14 | Reuters

AOL1d ago

Hollywood Stars Oppose Paramount-Warner Bros. Discovery Merger - AOL

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Is this $110 billion Hollywood mega-merger a desperate bid for survival or the death of creative freedom?

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Paramount–Warner Bros. Discovery $110B Merger Faces EU, US, and Gulf State Scrutiny Amid Industry Opposition

Overview

As of June 2026, the proposed merger between Paramount and Warner Bros. Discovery faces intense regulatory scrutiny across major global jurisdictions. The European Union is leading with a dual-track assessment, where the merger review is expected to be challenging and may require the companies to make concessions, such as divesting a children's channel, while the subsidy review is likely to be smoother. In the United States, both the Department of Justice and the FCC are conducting thorough reviews, especially due to significant foreign investment in the merged entity. These overlapping regulatory hurdles highlight the complexity and high stakes of the deal.

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