EU Examines Middle East Funding Behind Paramount’s Warner Acquisition

FCC filings identify Saudi, Qatari, and Emirati investors supporting the deal.

The Warner Bros. logo is displayed on a water tower at Warner Bros. Studio in Burbank, Calif., on Sept. 12, 2025. Mario Tama/Getty Images

European Union regulators have launched a foreign-subsidy review of Paramount Skydance Corp.’s proposed $110 billion takeover of Warner Bros. Discovery Inc., examining the role of state-backed Middle Eastern funds in financing the transaction.

The European Commission said in a June 10 filing that it is reviewing the transaction under the bloc’s Foreign Subsidies Regulation (FSR) and has set a provisional deadline of July 14 for an initial decision.