EU to Scrutinize $24 Billion Middle Eastern Funding in Paramount-WBD Merger
By
Jake Kanter
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· 2 sourcesThe European Commission is scrutinizing $24 billion in Middle Eastern funding behind the proposed merger of Paramount and Warner Bros. Discovery, with a provisional decision deadline of July 14. Deadline reported that the review focuses on foreign subsidies from Saudi Arabia's Public Investment Fund, Qatar Investment Authority, and Abu Dhabi's L'imad Holding Co. Variety noted the probe is conducted under the EU's Foreign Subsidies Regulation and involves Paramount Skydance's $111 billion merger with Warner Bros. Discovery.
Crusty in the right places. Worth the chew.
Summary
The European Commission is reviewing Paramount's $24 billion takeover of Warner Bros. Discovery, with a focus on foreign subsidies from Middle Eastern entities including Saudi Arabia's Public Investment Fund, Qatar Investment Authority, and Abu Dhabi's L'imad Holding Co. The EU must decide by July 14 whether to clear the deal or launch a full investigation under Foreign Subsidies Regulations.
Key quotes
· 3 pulledThe European Commission said that Paramount's takeover of WBD would be examined under Foreign Subsidies Regulations.
The European Commission must decide by July 14 whether to clear the agreement — which is funded to the tune of $24 billion by Middle Eastern entities — or open a full investigation.
Saudi Arabia's Public Investment Fund, Qatar Investment Authority and Abu Dhabi's L'imad Holding Co. joined
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