EU To Examine Paramount's Middle Eastern Backing For Warn…

The European Commission is set to scrutinize Paramount's $24 billion acquisition of Warner Bros. Discovery, particularly focusing on the involvement of Middle Eastern investors such as Saudi Arabia's Public Investment Fund and Qatar Investment Authority. This examination falls under the Foreign Subsidies Regulations, with a decision expected by July 14. Simultaneously, a Phase 1 investigation is ongoing, with speculation of a Phase 2 inquiry likely. Additionally, the UK's Competition and Markets Authority has initiated a formal investigation into the merger.

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By Jake Kanter

Jake Kanter

International Investigations Editor

@Jake_Kanter

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The Foreign ⁠Subsidies Regulation work is distinct from the merger investigation also being undertaken by the European Commission.

A Phase 1 investigation is underway with a deadline of July 7. Competition scholars have predicted that a Phase 2 investigation is likely.

Separately this week, the Competition and Markets Authority, the UK’s antitrust authority, also launched a formal investigation into the $110 billion merger between Paramount and WBD.