European antitrust regulators are reportedly preparing to expedite approval for Paramount Skydance’s $110 billion acquisition of Warner Bros. Discovery.
The European Commission is leaning toward clearing the deal during its initial Phase 1 probe as of April 29, 2026.
Paramount Skydance is also seeking U.S. Federal Communications Commission (FCC) approval for significant foreign financing.
FCC filings reveal that Middle Eastern sovereign wealth funds would hold up to 49.5% of the merged company’s equity.
These foreign entities would hold non-voting shares, while the Ellison family and RedBird Capital retain control.
The proposed foreign ownership level requires a special public interest ruling from the FCC.
Warner Bros. Discovery stock increased slightly following the news of the potential European clearance.