Story perspectives

EU Likely OKs $111B Paramount-WBD Deal, Gulf Funds Pledge $24B

6/25/2026

Summary

EU Approves Merger

The European Commission is expected to approve Paramount Global’s $111 billion merger with Warner Bros. Discovery by July 7.
The Commission is negotiating remedies that could force Paramount to exit its joint venture with Universal Pictures.
Warner Bros. Discovery shares rose about 1.25% on Wednesday after the likely EU approval.
Saudi Arabia’s Public Investment Fund, Qatar Investment Authority and Abu Dhabi’s L’imad Holding pledged $24 billion to back the deal.

Summary

Ellison Beats Netflix

Netflix’s $82.5 billion bid lost to Larry Ellison’s $31-per-share $111 billion offer.
The deal carries a $7 billion termination fee and a $40 billion guarantee.
African services like MultiChoice’s Showmax may face higher fees or lose HBO/Paramount titles.
TNT Sports and CBS Sports could outbid rivals for EPL and FIFA World Cup rights, affecting African viewers.
Ellison hired “anti-woke” editors for CBS News, raising questions about CNN’s future tone.

History

Historical Context

The 2000 AOL–Time Warner merger, filed Feb 11 2000 and cleared by the FTC on Jan 11 2001, gave AOL shareholders 55% control, reshaped global media ownership and was approved by the European Commission on Oct 11 2000. Today the EU is reviewing Paramount’s $111 billion bid for Warner Bros. Discovery, reviving the same 30% market-share concerns under antitrust guidelines.

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EU Approves Merger

The European Commission is expected to approve Paramount Global’s $111 billion merger with Warner Bros. Discovery by July 7.
The Commission is negotiating remedies that could force Paramount to exit its joint venture with Universal Pictures.
Warner Bros. Discovery shares rose about 1.25% on Wednesday after the likely EU approval.
Saudi Arabia’s Public Investment Fund, Qatar Investment Authority and Abu Dhabi’s L’imad Holding pledged $24 billion to back the deal.

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