Paramount's acquisition of Warner is currently under review by the European Union.

A document from the European Commission shows that the acquisition of Warner Bros. Discovery by Paramount Skydance Group is under review by the EU for foreign subsidies, as it has received support from a Gulf state sovereign wealth fund. The American entertainment giant submitted an application on Tuesday under the EU's foreign subsidy regulation in order to seek approval. This regulation aims to address unfair foreign government subsidy practices. As the EU's competition watchdog, the European Commission must make a decision by July 14th: either approve the transaction or initiate a full in-depth investigation lasting 90 working days.