Paramount, Warner Bros deal under EU subsidy scrutiny, decision due July 14
BRUSSELS, – Paramount Skydance Corp’s $110 billion takeover of Warner Bros Discovery, backed by Gulf sovereign wealth funds, is under European Union subsidy scrutiny, according to a European Commission filing.
The U.S. entertainment giant sought EU approval under its Foreign Subsidies Regulation, which targets unfair foreign state aid, on Tuesday.
The Commission, which acts as the EU competition enforcer, will decide by July 14 whether to clear the deal or open a full-scale 90 working day investigation.
