EU To Examine Paramount’s $24 Billion Middle Eastern Backing For Warner Bros. Deal

The Middle Eastern money successful nan mega-merger betwixt Paramount and Warner Bros. Discovery (WBD) is to beryllium nan taxable of scrutiny successful nan European Union.

In a filing this week, nan European Commission said that Paramount’s takeover of WBD would beryllium examined nether Foreign ⁠Subsidies Regulations.

The European Commission must determine by July 14 whether to ​clear nan statement — which is funded to nan tune of $24 cardinal by Middle Eastern entities — aliases unfastened ​a afloat investigation.

Saudi Arabia’s Public Investment Fund, Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. joined U.S.-based RedBird and LionTree arsenic investors successful nan merger, Paramount said successful an SEC filing successful April.

The Foreign ⁠Subsidies Regulation activity is chopped from nan merger investigation besides being undertaken by nan European Commission.

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

Separately this week, nan Competition and Markets Authority, nan UK’s antitrust authority, besides launched a general investigation into nan $110 cardinal merger between Paramount and WBD.

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